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Jan 1, 2010
Jail for tax evader
Former parallel importer to serve 22 months in jail in lieu of $1.2m penalty
<!-- by line --> By Khushwant Singh
<!-- end by line -->
A FORMER parallel importer of cars, unable to cough up the $1.22 million fine handed down to him for tax evasion, has rung in the new year in a jail cell. Ng Thiam Thi, 43, will be behind bars for a year and 10 months in default. He admitted yesterday to having under-declared the value of 327 vehicles he imported from Japan between March 2007 and September 2008. Doing that enabled him to dodge paying $455,500 in duties and goods and services tax (GST) - until he was caught. The court heard that he set up Cars Imported, a parallel-import company, in February 2007. By evading the taxes due on the vehicles, he was able to offer lower prices on his cars compared with his competitors.
Read the full story in Friday's edition of The Straits Times.
Home > Breaking News > Singapore > Story
Jan 1, 2010
Jail for tax evader
Former parallel importer to serve 22 months in jail in lieu of $1.2m penalty
<!-- by line --> By Khushwant Singh
<!-- end by line -->
A FORMER parallel importer of cars, unable to cough up the $1.22 million fine handed down to him for tax evasion, has rung in the new year in a jail cell. Ng Thiam Thi, 43, will be behind bars for a year and 10 months in default. He admitted yesterday to having under-declared the value of 327 vehicles he imported from Japan between March 2007 and September 2008. Doing that enabled him to dodge paying $455,500 in duties and goods and services tax (GST) - until he was caught. The court heard that he set up Cars Imported, a parallel-import company, in February 2007. By evading the taxes due on the vehicles, he was able to offer lower prices on his cars compared with his competitors.
Read the full story in Friday's edition of The Straits Times.
