Finance Ministry sends letters to indirect tax defaulters

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The letters are being sent to an entity or an individual to seek clarification on a financial transaction, red flagged by economic intelligence agencies as black money or seen as an attempt to dodge authorities from paying taxes, carried out by them, they said. The numbers of letters issued to the entities were not immediately known. It is for the first time that such letters have been issued to indirect tax defaulters, a senior Finance Ministry official said, adding that the Income Tax Department has been issuing such letters to direct tax dodgers. The Finance Ministry has decided to go after about 12 lakh service tax assesses who had stopped filing returns.

Euroloan Consumer Finance PLC in 28 million EUR deal

Earlier he worked for KPMG as Director and Head of Business Area Risk Advisory Services, at Oxford IPC Worldwide as Partner and Vice President, Europe, and in several leading positions within ABB Financial Services and ABB Group. He has a number of Board positions, and is a founding member holding a Fellowship with the Oxford Leadership Academy. Mr. Pauli Hentunen (BBA), co-founder of the Group and former Chairman.

Finance ministry in process of completing draft for 2014 Budget

Please try again later. KUCHING: The Finance Ministry is now in the process of completing the draft for 2014 Budget after receiving some 100 memorandums for consideration from various parties throughout 2014 Budget Consultation Council sessions since June this year. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the consultation sessions were held in the peninsula, Sarawak and Sabah, and after the third session in Kota Kinabalu on Aug 22, the process of completing the draft for 2014 Budget was now in the last phase. “The draft is expected to be completed in the middle of September for scrutiny and finalised before being tabled by Prime Minister Datuk Seri Najib Tun Razak next October.


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