Three retailers of branded handbags and accessories learnt the hard way that taxes still have to paid even if their businesses take place on the net.
Long Siew Fong, Jessie Sng Lee Ling and Yak Sow Pin have been sentenced by the State Courts for fraudulent evasion of Goods and Services Tax (GST) and were fined $31, 000, $10,000 and $4,500 respectively.
Each of them had intentionally under-declared the values of their imported goods. The total shortfall in GST payment accrued by the three individuals amounted to over $11,118.
According to Singapore Customs’ Head of Trade Investigation Branch Wan Boon Oon, anyone found guilty of fraudulent evasion of GST on imported goods will be liable up to 20 times the amount of tax evaded and/or be jailed for up to two years.
Photo: Wikimedia Commons
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Online shopping portal Streetdeal hit with $25,000 fine for unlicensed travel agency business
Three retailers of branded handbags and accessories learnt the hard way that taxes still have to paid even if their businesses take place on the net.
Long Siew Fong, Jessie Sng Lee Ling and Yak Sow Pin have been sentenced by the State Courts for fraudulent evasion of Goods and Services Tax (GST) and were fined $31, 000, $10,000 and $4,500 respectively.
Each of them had intentionally under-declared the values of their imported goods. The total shortfall in GST payment accrued by the three individuals amounted to over $11,118.
According to Singapore Customs’ Head of Trade Investigation Branch Wan Boon Oon, anyone found guilty of fraudulent evasion of GST on imported goods will be liable up to 20 times the amount of tax evaded and/or be jailed for up to two years.
Photo: Wikimedia Commons
Read Also:
Online shopping portal Streetdeal hit with $25,000 fine for unlicensed travel agency business