Greater San Fernando Chamber of Industry and Commerce president Kiran Singh has expressed support for the Board of Inland Revenue’s (BIR) enforcement of tax laws.
This follows news that two businessmen, TTRN owner Anthony Chow Lin On and Movietowne’s Derek Chin, are owing the state $34 million and $93 million respectively in unpaid taxes.
“The law of the land is that if you work, you must pay the State; the government is the collector of taxes. Several amnesties were given in the past by the Minister of Finance, and we would have expected law-abiding citizens and businessmen to pay their dues and debts,” Singh said.
He noted that enforcing tax laws equally across all business sizes would level the playing field, relieving pressure on small and medium enterprises (SMEs) that face stringent banking sector requirements.
However, Singh added that the Ministry of Finance should also pay VAT refunds on a timely basis for those business owners who pay their taxes.