A businessman has been handed a 13-month suspended jail term after a court found him guilty of failing to submit his tax returns on time and failing to submit Lm273,528 in tax deducted from workers' salaries between January 1998 and January 2008.

Carmel Borg, 47, of Attard, managing director of Aluminium Extrusions Ltd, was also found guilty of misappropriation.

The court in its considerations found that the company had suffered major financial problems and the accused had been trying to save the company. In so doing he did not transfer to the Inland Revenue Department the taxes deducted from salaries.

The court noted that the company and the department had reached agreement on how the overdue tax could be paid but a representative of the department had testified that Lm264,528 were still outstanding.

The court also ordered Mr Borg to pay in the outstanding amount within six months.