Oct 1, 2010
Firm and execs face tax evasion
By Elena Chong
TWO executives of a roast meat company were charged in court on Friday with helping the company evade tax by omitting sales of $3.5 million between 2005 and 2007. Lew Eng Ho and Peh Tian Poh, both 47, are also alleged to have wilfully, with intent to evade tax, made false entries in the returns of Xing Wang Ji Roast Meat Wholesale and Lai Wang Roast Meat Wholesale on 19 occasions by under-declaring supplies totalling $4.4 million between 2004 and 2007.
Lai Wang is the new name of Xing Wang, which stopped operations in 2007. Lew is a director of both companies while Peh, a former director of Xing Wang, is manager of Lai Wang. Xing Wang was also charged with similar offences of income tax and GST evasion, while Lai Wang is accused of five counts of under-declaring supplies of $381,913.
Income tax conviction carries a maximum punishment of a fine of up to $10,000 and/or a jail term of up to three years plus treble the amount of tax underchanged. For GST offences, the maximum penalty is a fine of up to $10,000 and/or a jail term of up to seven years. All the cases were adjourned to Oct 29. Lew and Peh are out on $10,000 bail each. Their passports have been impounded.
