A 51-year-old man has been declared bankrupt by the High Court for failing to settle RM15 million in income tax arrears from 2011 to 2017
KUALA LUMPUR: An individual has been declared bankrupt after failing to settle income tax arrears of RM15 million for the assessment years from 2011 to 2017.
The order was issued after the High Court here yesterday rejected an application by Sayyid Shah Abdullah, 51, to stay the bankruptcy proceedings filed by the Malaysian government.
Inland Revenue Board (IRB) counsel Qhistina Mohd Apandi, representing the government, said the bankruptcy proceedings were filed after the High Court on April 20, 2022, granted the government’s application for a direct judgment against Sayyid Shah over RM14,463,166.14 in income tax arrears for the assessment years 2011 to 2017.
“This includes the tax assessed and now due to the Malaysian government. The bankruptcy proceedings, initiated on Jan 27, 2023, began with the filing of a bankruptcy notice and have continued for several years following multiple applications.
“Ultimately, the court issued a bankruptcy order against Sayyid Shah,” she told reporters today.
The proceedings yesterday were held in the chambers of senior assistant registrar of the High Court, Norbert Liew Chee Vui, with counsel Lee Teong Hooi representing Sayyid Shah in attendance.
