On the heels of news that TTRN owner Anthony Chow Lin On owes the Board of Inland Revenue $34 million in unpaid taxes, now comes word that businessman and Movietowne owner Derek Chin is also in the same boat – owing a whopping $93 million.
According to a GML report, Chin, owes the BIR $93 million in unpaid taxes and penalties, which spans a period of 20 years.
The report revealed that the State has already garnished the accounts of the businessman.
Chin reported confirmed the amount owed, telling the media house: “A payment plan was put in place.”
It is now understood that the action by the BIR is part of a nationwide drive to recover some $15 billion in taxes owed by various entities.
MovieTowne has three cineplexes in Trinidad – in Port-of-Spain, San Fernando and Tobago – and one in Guyana. Apart from the cinemas, the MovieTowne complexes feature retail shops, food franchises and even casinos.