Businessman faces tax evasion charges
A businessman yesterday faced 11 charges in the District Court of evading profits tax. Yu Hin-man, 48, the proprietor of Hin Lee Plastic Silk Screen Printing, a plastic and silk-screen printing firm, denied evading HK$2.6 million in tax by inflating expenditures. The prosecution alleged that Yu overstated purchases from 1994 to 1998. It also said Yu spent about HK$17 million, including buying four properties and a Porsche. The case continues today before Deputy Judge Bina Chainrai.