Resolution of Income Tax and GST Audit
The client, a sole proprietor, had been subjected to an Income Tax audit by the Comptroller of Income Tax. The client had allegedly underdeclared his income. The firm was engaged to represent and advice the client towards the end of the income tax audit as the result would potentially give rise to goods and services tax (“GST”) implications which would result in heavy financial penalties being imposed on the client.
The team’s in depth understanding of the Comptroller’s procedures and methods enabled OSH to sustain a case to defend the GST position. Both the income tax and GST matters were disposed of quickly and with minimal penalties imposed.