SINGAPORE: The owner of a funeral business was on Thursday (Mar 7) given fines and penalties totalling more than S$250,000 for under-declaring ...
SINGAPORE: The owner of a funeral business was on Thursday given fines and penalties totalling more than S$250,000 for under-declaring tax.
The Inland Revenue Authority of Singapore said in a statement that this is its first prosecution against someone in the funeral industry.William Quek Soo Chek, 60, pleaded guilty to two charges of giving incorrect information on his tax liabilities - one relating to Goods and Services Tax , and another for his income tax.
However, its supplies had exceeded S$1 million in the quarter ending December 2002, instead. Had the information gone unchecked, Quek would have evaded tax payment of more than S$123,000, the court heard.A few years later in April 2011, Quek gave incorrect information in his income tax return by including private car expenses as part of deductible expenses.An IRAS tax investigator uncovered his offences and he was taken to court.
On top of the fines and penalties ordered by the court, Quek also had to repay IRAS more than S$132,000 in back-dated taxes. IRAS said in its statement following the hearing that any business that gives incorrect information in its GST registration form or return without reasonable excuse may be fined, jailed, or given a penalty twice the amount of tax evaded.Source: CNA/ll
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