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Story summary
- Shi, owner of SWB Foods Ltd, failed to remit $194,295.50 PAYE to Inland Revenue.
- He neglected GST returns after 2020, resulting in $185,143.86 unpaid.
- He omitted five yearly income tax returns from March 2020 to March 2024, owing $124,415.77.
- A June 2024 Inland Revenue audit revealed SWB’s total tax debt of about $400,000.
- Shi’s $100,000 repayment before sentencing left Inland Revenue a net loss of $403,855.13 after November 2025 filings.