Jin Ming Wu, a Chinese national and owner of Prosperous Hardware Incorporated, appeared before the Georgetown Magistrates’ Court on Wednesday to answer four charges related to alleged tax evasion.
The charges stem from accusations by the Guyana Revenue Authority (GRA) that Wu failed to submit individual income tax returns for the years 2022 to 2024.Wu, who resides at Lot 110 Regent Street, Georgetown, faced one charge on behalf of his company and three individual charges. The GRA alleges that Prosperous Hardware failed to file its tax returns by the required deadline of April 30, 2022.
In court, Wu pleaded guilty with an explanation to both the corporate and individual charges.Wu’s legal representative, Attorney Sasha King, informed the court that her client acknowledges his obligations to the GRA and expressed sincere apologies for his failure to comply.
The prosecution noted that the penalty for the offences amounts to 10% of the tax assessment for each year. In light of this, the prosecutor requested a two-week adjournment to allow the GRA time to calculate the outstanding amounts. Principal Magistrate Faith McGusty granted Wu self-bail, acknowledging his voluntary court appearance. The case is set to continue on September 23, 2024.
