Christchurch property developer Philip John Duncan has been jailed for 2-1/2 years for GST fraud of more than $660,000.
Duncan was sentenced in Christchurch District Court today after earlier pleading guilty to eight charges of tax evasion.
The IRD said Duncan conducted his business through a complex structure of associated companies and trusts, claiming GST on property purchases which were later cancelled, and for transactions which never happened.
IRD investigations manager Lynley Sutherland said the sentence was a warning to anyone trying defraud the IRD.
"Don't be tempted -- it's not worth it," she said.
"We have measures in place to identify irregularities in tax returns and business records. It's not a matter of if tax cheats will get caught, it's when." Duncan is bankrupt, so no order for reparation was sought.
