Firm's ex-president jailed for tax evasion
The former president of a consultancy company, who evaded HK$350,000 in tax by not reporting more than HK$2 million in profit, was jailed for seven months and fined HK$556,000 yesterday. The sentence was suspended for three years. Raymond Chan Wah-fai, 37, who pleaded guilty on July 13 to five counts of tax evasion, was sentenced by Deputy Judge Johnny Chan Jong-herng in the District Court. He admitted he did not report the profit for 1995 to 1999 and failed to report chargeable tax from 1999 to 2001. He set up Metroware Company in 1992.