KUALA LUMPUR: A 51-year-old man has been declared bankrupt for failing to settle over RM15 million in income tax arrears accumulated over seven years.
Inland Revenue Board (IRB) counsel Qhistina Mohd Apandi said the order was granted after the High Court yesterday dismissed Sayyid Shah Abdullah’s application to stay bankruptcy proceedings filed by the government.
Qhistina said the proceedings were initiated after Sayyid failed to pay arrears totalling RM14,463,166.44 between 2011 and 2017.
She said the amount included tax increases and had become due and payable to the government.
“The bankruptcy proceedings were initiated on Jan 27, 2023, through the filing of a bankruptcy notice and were prolonged due to several applications being filed….