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Dec 12, 2008
Jailed for tax evasion <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong
</td></tr> </tbody></table> <!-- START OF : div id="storytext"--> A BUSINESSMAN who evaded tax of about $46,000 over six years by underdeclaring his share of profit in his food court operations was jailed for six months' and ordered to pay a penalty of $137,185 on Friday. Ang Tin Yong, 48, admitted to six counts of making false entries in the income tax returns from 2000 to 2005 on his share of profits from All Family Food Court (AFFC). He is a partner of AFFC and Palm Valley Food Court, and Palm View Food Court.
Inland Revenue Authority prosecutor Sinnadurai Maniam told the court that a raid was carried out at AFFC's premises in Pasir Ris and Ang's home.
Investigation showed that Ang evaded tax for all three business entities. He under-declared the actual net profit in AFFC's statement of accounts submitted to the authority. The total amount he understated for the six years was $45,728. Ang was acquitted of six other charges which were withdrawn. As he has been convicted of three or more charges under the Income Tax Act, he faces a minimum six months in jail. The penalty he has to pay is three times the amount evaded. Pleading for leniency, he said he regretted his actions, has a seven-month-old child and was the sole breadwinner. District Judge Miranda Yeo allowed him to defer sentence until Dec 31. Bail of $20,000 was allowed and his passport was impounded. Ang could have been fined up to $10,000 and/or jailed for up to three years on each charge.
<!-- end of for each --><!-- vbbintegration : start --><!-- vbbintegration : end --><!-- dennis change request 20070424 : start --><!---Google ad - Start : Fri, 12 Dec 2008 15:51:35:771--> <!-- AdSpace STI Google ad tag --> <script language="JavaScript1.1" src="http://ads.asia1.com.sg/js.ng/site=tsti&pagepos=20&size=10X10"> </script>
Dec 12, 2008
Jailed for tax evasion <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong
</td></tr> </tbody></table> <!-- START OF : div id="storytext"--> A BUSINESSMAN who evaded tax of about $46,000 over six years by underdeclaring his share of profit in his food court operations was jailed for six months' and ordered to pay a penalty of $137,185 on Friday. Ang Tin Yong, 48, admitted to six counts of making false entries in the income tax returns from 2000 to 2005 on his share of profits from All Family Food Court (AFFC). He is a partner of AFFC and Palm Valley Food Court, and Palm View Food Court.
Inland Revenue Authority prosecutor Sinnadurai Maniam told the court that a raid was carried out at AFFC's premises in Pasir Ris and Ang's home.
Investigation showed that Ang evaded tax for all three business entities. He under-declared the actual net profit in AFFC's statement of accounts submitted to the authority. The total amount he understated for the six years was $45,728. Ang was acquitted of six other charges which were withdrawn. As he has been convicted of three or more charges under the Income Tax Act, he faces a minimum six months in jail. The penalty he has to pay is three times the amount evaded. Pleading for leniency, he said he regretted his actions, has a seven-month-old child and was the sole breadwinner. District Judge Miranda Yeo allowed him to defer sentence until Dec 31. Bail of $20,000 was allowed and his passport was impounded. Ang could have been fined up to $10,000 and/or jailed for up to three years on each charge.
<!-- end of for each --><!-- vbbintegration : start --><!-- vbbintegration : end --><!-- dennis change request 20070424 : start --><!---Google ad - Start : Fri, 12 Dec 2008 15:51:35:771--> <!-- AdSpace STI Google ad tag --> <script language="JavaScript1.1" src="http://ads.asia1.com.sg/js.ng/site=tsti&pagepos=20&size=10X10"> </script>
