- Director of Studioholic Private Limited convicted of GST evasion and providing false documents to IRAS
- Sentenced to 38 months in prison and ordered to pay $2,458,537 in penalties
- Severe penalties for GST evasion include three times the amount of tax undercharged, fines, and up to 7 years in prison
- Providing false information to IRAS can result in penalties of three times the amount of tax undercharged, fines, and up to 7 years in prison
- Businesses and individuals encouraged to disclose past tax mistakes to IRAS
- Cash rewards offered to informants for providing information leading to tax recovery, with identities kept confidential.
Source: iras.gov.sg
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
