IRB seek tax arrears of RM68m from Jho Low’s ally ‘Fat Eric’

(MMO) – The Malaysian government is seeking nearly RM68 million in back taxes from Eric Tan Kim Loong or better known as Eric Tan, widely reported as fugitive businessman Low Taek Jho (pic) or Jho Low’s most trusted associate.

Through a court filing by the Inland Revenue Board (IRB) on January 15, the tax body is seeking to collect income tax arrears for the years of assessment from 2010 to 2013.

In the statement of claim, it alleged that Tan was due to pay income tax of RM2.706 million in 2010, RM22.090 million in 2011, RM35.479 million in 2012 and RM1.538 in 2013, through notices dated September 30, 2020.

Collectively, IRB is seeking RM67,996,891.87 from Tan, which included a 10 per cent additional payment, as he had failed to pay the original amount within the stipulated time as stated under Section 103 of the Income Tax Act 1967.

As such the government is also entitled to 5 per cent interest from the total cost from the date of the judgement, cost and other relief deemed fit by the court.

“Because the Defendant has failed to pay the total tax of RM2,706,021.82, RM22,090,949.92, RM35,479,911.48 and RM1,538,473.04 within 30 days from the date of delivery of the Assessment Notices to him as stipulated under section 103 of the Income Tax Act 1967, a 10 per cent tax increase of RM270,602.18, RM2,209,094.99, RM3,547,991.14 and RM153,847.30 respectively was imposed and added on the entire income tax for the year2010, 2011, 2012 and 2013,’’ stated the court filing

Through the court application, IRB stated that it has sent notices, seeking the amount from Tan, to his last known address in Taman Pusat Kepong on November 24, 2020, but had received no reply from him.

In January 2019, Bukit Aman had issued a notice, seeking the public’s help to track down fugitive businessman Jho Low’s parents, Tan, and a Singaporean fashion designer, Shabnam Naraindas Daswani allegedly favoured by Datin Seri Rosmah Mansor previously.

Tan, who has been dubbed “Fat Eric” or “Eric Tan”, has been described in news reports as Jho Low’s most trusted aide and had acted as his proxy in multiple financial transactions involving 1Malaysia Development Berhad (1MDB) money.

All four are wanted to assist in investigations over the financial scandal in relation to 1MDB money-laundering offences.