B.C. developer convicted on tax fraud charges

B.C. developer convicted on tax fraud charges

B.C. developer convicted on tax fraud charges

Real estate developer Rajinder Singh Mann of Surrey, B.C. has been convicted earlier this week (April 16) for evading almost half a million dollars in GST (goods and services taxes) and HST (harmonized sales taxes) in 2010 and 2011.

Mann received a conditional sentence of two years less a day, including nine months of house arrest and 150 hours of community service, Postmedia reported.

Mann was also ordered to repay the full $462,092 he evaded in GST and HST after Millennium Century Investments Ltd. sold 44 units in a Maple Ridge townhouse complex built by Millennium and failed to report and remit the taxes collected.

Mann was the sole director and shareholder of Millennium.

Read more: B.C. real estate council sets up tip line for erring brokers

The sentence for GST evasion includes repayment of the full amount of taxes owing plus interest, along with any civil penalties the CRA might recommend.

Also, the court may slap with violators a jail term of up to 5 years, as well as a fine of up to 200% of the taxes evaded.

In January, Mann pleaded guilty to seven counts of fraud under the Excise Tax Act.

 

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