Accounting . Tax . Advisory
Recent news
Roasted meat wholesale company convicted of tax evasion
Inland Revenue Authority of Singapore (Published on 21 Nov 2014)
Xing Wang Ji Roasted Meat Wholesale Pte Ltd (“Xing Wang Ji”; 兴旺記烧肉批发私人有限公司) was convicted in Court today for failing to declare sales income amounting to approximately $3.5 million in its Income Tax Returns for Years of Assessment (“YAs”) 2005 to 2007, and for understating output tax totalling more than $220,000 in its GST returns. One of its directors, Peh Tian Poh (白添宝), was also convicted of assisting Xing Wang Ji to evade tax.
The court ordered Xing Wang Ji to pay a fine of $42,000. Peh Tian Poh was sentenced to 6 weeks’ jail and ordered to pay a total of $354,961.76 in taxes and penalty.
Construction company and director fined for omitting GST on property sale
Inland Revenue Authority of Singapore (Published on 29 Oct 2014)
A construction company and its director were each ordered by the court to pay a penalty of $191,268 - two times the amount of GST evaded - and a fine of $2,000 for failing to account for GST on the sale of a property at Woodlands Industrial Park.
Junling Construction & Engineering Pte Ltd ("Junling Construction & Engineering") and its director, Cheah Wai Fun, 52, were charged for not reporting the amount of GST collected from the sale of a property in the company's GST return in 2011.