B.C. software firm fined $100K
InfoSpec sold software enabling retail businesses to hide income, avoid tax
CBC News
Posted: Jul 23, 2012 3:04 PM PT
Last Updated: Jul 23, 2012 6:38 PM PT
A number of restaurants were found to have used the particular InfoSpec software, hiding income of up to $3.8 million. (iStock)
A Richmond, B.C., company has been fined $100,000 for selling software to help businesses hide their income.
InfoSpec Systems Inc. was found guilty of fraud last month.
The company was selling what is known as a "zapper" program to restaurants and retail outlets, which would automatically erase cash sales from electronic cash registers, enabling businesses to report less income.
The scheme was exposed by an undercover operation in 2008. Investigators posed as restaurateurs to gather videotaped evidence from a software salesperson.
Allegations later surfaced of fraud totalling $3.8 million, involving four Metro Vancouver sushi restaurants.
Canada Revenue Agency spokesperson Maria Bender is urging businesses who used the software to come forward before the agency takes action.
"Taxpayers who have not filed returns for previous years or have not reported all their income ... can voluntarily correct their taxes," Bender said.
One restaurateur and one person who sold the software also have also been convicted in connection to the scheme.
With files from the CBC's Meera BainsShare Tools
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