The Cabot Ford Lincoln dealership in St. John’s and the company’s president have been fined over $90,000 for tax evasion.
The charges date back to 2009 and involved president Frank Clarke billing the car dealership for close to a quarter of a million dollars in personal expenses such as paving, shelving and landscaping.
Cabot Ford Lincoln Sales then used these expenses to decrease their taxable income, resulting in a tax savings over three years of $30,000 dollars. It also resulted in Clarke receiving more than a quarter of a million dollars over three years that he never reported or paid taxes on. That amounted to just under $60,000 dollars in taxes.
In addition to the fines, the company and Clarke have to pay back taxes.