A man has been declared bankrupt after failing to settle RM15 million in income tax arrears for the assessment years 2011 to 2017.
The High Court yesterday dismissed an application by 51-year-old Sayyid Shah Abdullah to stay the bankruptcy proceedings initiated by the Malaysian government.
Representing the Inland Revenue Board (IRB), counsel Qhistina Mohd Apandi said the bankruptcy proceedings were filed after the High Court granted the government’s direct judgment application on April 20, 2022, for RM14,463,166.14 in unpaid taxes.
“This amount includes assessed taxes that are now due to the Malaysian government. The bankruptcy process, which began with a notice on Jan 27, 2023, has continued over several years through multiple court applications,” she said.
The bankruptcy order was ultimately issued against Sayyid Shah. The proceedings were held in the chambers of Senior Assistant Registrar Norbert Liew Chee Vui, with Sayyid Shah represented by counsel Lee Teong Hooi.
