News

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,…

New penalties for late filing of Annual Returns from 14 January 2022

With effect from 14 January 2022, penalties for late filing of annual statutory lodgments by Local Companies, Variable Capital Companies (VCCs), and Limited Liability Partnerships (LLPs) will go up to S$600 if filed more than 3 months after the due date. If late filing falls within 3 months of the due date, the penalty will…

Available Special UEN: February 2020

Available Special UEN (Updated: Feb 2020)   What is a Unique Entity Number (UEN)? A Unique Entity Number (UEN) is an identification number provided to every business entity in Singapore, upon successful incorporation with the Accounting and Corporate Regulatory Authority (ACRA). This UEN is issued free-of-charge by ACRA.   What is a Special UEN (SUN)?…

IRAS Recovers $175 Million in Penalties for GST Non-Compliance

IRAS Recovers $175 Million in Penalties for GST Non-Compliance The Inland Revenue Authority of Singapore (IRAS), the authority mandated to enforce the Goods and Services Tax (GST), recovered a whopping $175 million over the past nine months in unpaid GST and accompanying penalties for non-compliance. This major haul is a reflection of the IRAS’ increased…

GST Requirement for Charities and Non-Profit Organizations

GST Requirement for Charities and Non-Profit Organizations The Goods and Services Tax (GST) does not apply to businesses only, but also to non-profit organizations and charities. Even if these entities are not involved in business activities, they are required to register for GST if they attract more than S$1 million in annual taxable supplies or…

Marine, Process and Manufacturing Sectors to be Included in the Foreign Worker Settling-In Programme from December 2019

Marine, Process and Manufacturing Sectors to be Included in the Foreign Worker Settling-In Programme from December 2019 Non-Malaysian foreign workers in the Marine, Process and Manufacturing sectors will be covered by the foreign worker settling-in program (SIP) starting from December 2019. This comes as a result of the positive feedback about the program for non-Malaysian…