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Man jailed for GST fraud and fined $79K

4-Jul-2012

The Manager of a Singapore wholesale trading company was sentenced to a week’s jail and a penalty of almost $79,000. 39 year old Tan Seng Beng, Joseph had intently defrauded on GST by overstating the input tax of AFGB Pte Ltd, resulting in net GST refunds of $26,000 to the company. For abetting the company on the above, the penalty is 3 times the amount over-claimed.

 

IRAS takes a serious view of taxpayers who wilfully evade tax. Lower penalties will apply if taxpayers voluntarily disclosure their GST errors.

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