News
Former insurance introducer convicted of giving incorrect expense claims in the Income Tax returns of insurance agents
SINGAPORE: Chew Yen, Ian (“Chew”), a 52-year-old insurance introducer, has been sentenced by the Court to fines totalling $4,000 and $186,816 in penalties after being convicted of four charges of providing incorrect information in the Income Tax returns of three insurance agents. As an insurance introducer, Chew was responsible for introducing potential customers to insurance…
Former Director Sentenced for Tax Evasion, Money Laundering Offences
SINGAPORE: Thomas Lee Zhixiong (“Lee”), 41, former director of six companies, has been convicted and sentenced by the Court to a jail term of 102 months and ordered to pay $9,271,912 in fines and penalties for Goods and Services Tax (“GST”) evasion, fraudulently claiming a Productivity and Innovation Credit (“PIC”) cash payout, money laundering and…
Tax 2023: Increased Penalties for Late Filing of Tax Returns
SINGAPORE: Over 2 million taxpayers (8 in 10 taxpayers) are set to enjoy having their tax returns pre-filled this year. This is made possible as the Inland Revenue Authority of Singapore (IRAS) extends the Auto-Inclusion Scheme (AIS) for Employment Income to more than 100,000 qualifying employers, who are to electronically submit the employment income information of…
Corporate Income Tax Filing – Adopters of Seamless Filing from Software to Enjoy Additional Benefits from 2023
SINGAPORE: To support more companies and tax agents to adopt seamless filing from software for greater productivity, the Inland Revenue Authority of Singapore (IRAS) is pleased to announce two new benefits for those filing Corporate Income Tax (CIT) Returns (Form C-S) seamlessly from software for the Year of Assessment (YA) 2023 to YA 2025. The…
Couple Convicted for Multiple Tax Evasions
SINGAPORE: Lim Meng Fatt and Gan Bee Bee, both aged 53, have been convicted by the Court today for tax evasions of Income Tax and Goods & Services Tax (GST), as well as fraudulently de-registering their company Wan Lin Healthcare Centre Pte Ltd (“Wan Lin”) from GST when in fact the company was still liable…
Night Club Operator Sentenced to Jail and Penalties for GST Evasion and Money Laundering
SINGAPORE: Soon Kok Khoon (“Soon”), the operator of Club Posh Entertainment LLP (“CPE”) and West Palace Entertainment (“WPE”) (collectively, the “Clubs”), has been sentenced by the Court to six months and 34 weeks imprisonment and ordered to pay penalties totalling $630,861, after being convicted of offences involving Goods and Services Tax (GST) evasion and money-laundering.…
Company Director Convicted of Tax Evasion, Money Laundering and Cheating Offences
SINGAPORE: Loh Chia Wei (“Loh”), 48, a director of Print Orient Pte Ltd (“Print Orient”), has been sentenced by the Court to 9 months of imprisonment and ordered to pay penalties totalling $253,195, after being convicted of offences involving Goods and Services Tax (“GST”) evasion, Corporate Income Tax evasion, money laundering and cheating. Despite Print…
Former Assistant to Property Agent Sentenced to 35 Weeks’ Jail for Forging Stamp Certificates and Giving False Statements to IRAS
SINGAPORE: Chuang Kuan Leong (“Chuang”), a 48-year-old former assistant to a property agent, has been found guilty of counterfeiting stamp certificates on tenancy agreements relating to multiple properties between Apr and Nov 2016. Chuang was convicted of 19 charges for counterfeiting stamp certificates that led to $4,464 of stamp duties being evaded, of which, he…
Former Managing Director Sentenced to 64 weeks’ Jail and to Pay More than $1 million in Penalty for GST Evasion and Wrongful Issue of Tax Invoice
SINGAPORE: Ang Wilson (“Ang”), 34, a former managing director of Fabriglass Construction Pte Ltd (“Fabriglass”) which was in the business of supplying glass and aluminium to the construction industry, has been sentenced by the Court to 64 weeks of imprisonment and ordered to pay a total of $1,005,073 in fine and penalties after being found guilty of committing the following tax…
Company failed to perform enhanced measures to mitigate money laundering, terrorism financing risks
SINGAPORE: A company had its registration cancelled by the Accounting and Corporate Regulatory Authority (ACRA) after it failed to take enhanced measures to mitigate money laundering and terrorism financing risks when incorporating companies. SGCN Link and its sole director and shareholder Lew Chian Hwa had their registration cancelled by ACRA with effect from Jan 29,…