Singapore - Former company director jailed 2 years for GST fraud  

A company director, who later became its accountant, has been sentenced to a total of two years in jail for making false entries in its Goods and Services Tax (GST) returns in order to evade tax.

46-year-old Teo Kiok Seng pleaded guilty to 40 charges of GST fraud over a 10-year period from 1996 to 2007. Eighty-six other charges were taken into consideration.

Teo was also ordered to pay a penal tax amounting to three times the amount of tax undercharged. This totalled some S$1.5 million.

The Inland Revenue Authority of Singapore said Teo relinquished his directorship of United Team Enterprise (UTE) in July 2003, but took on the role of accountant and continued to submit its GST declarations.

After the trading company stopped business activities in 1996, he submitted fictitious claims for GST refunds.

Under the GST Act, those who make false statements in any returns or applications can be fined up to S$10,000 or face imprisonment of up to seven years.

Source : Channel News Asia - Singapore,  dated 14/02/2009