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Sole proprietor jailed for GST fraud
Posted: 08 November 2011 1237 hrs
SINGAPORE: A wholesaler of car and vehicle parts was sentenced to eight months and two weeks jail for Goods and Services (GST) Tax Fraud.
Tan Kim Teck on Tuesday pleaded guilty to 11 charges of creating false entries in his GST returns to evade tax of nearly S$220,000 via his sole proprietorship company, TKT Trading.
Tan also burned records to impede investigations.
Eighteen other charges were also taken into consideration.
He was also fined nearly S$414,000, three times the amount of tax undercharged.
Investigations by the Inland Revenue Authority of Singapore (IRAS) showed that he had made tax claims for transshipment goods that did not enter Singapore.
These goods were moved from importing vessel to exporting vessel and do not incur any GST.
- CNA/fa
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