Business briefing

Darco unit asked to pay more tax and penalties

DARCO Water Technologies unit, Darco Engineering Taiwan Inc (DET), has received additional tax assessments and penalties from the Taiwanese tax authorities amounting to NT$42.8 million (about S$1.78 million) and NT$38.48, respectively.

These arose from fraudulent acts committed by DET's previous management, as announced in November 2010, said Darco. The company, advised that the additional taxes and penalties are disputable, has indicated that it will …