The former owner of Yi Sheng Trading, Toh Chee Wee, who evaded duty and Goods and Services Tax on car imports totalling about $148,000 has been fined $1.42 million. --ST PHOTO: GEORGE GASCON
A MAN who evaded duty and Goods and Services Tax on car imports totalling about $148,000 has been fined $1.42 million.
Stiff penalties
UNDERDECLARATION of the value is a serious offence as it will result in short payment of duty, GST and Additional Registration Fee (ARF).
Any person convicted of fraudulent evasion of duties or GST can be fined up to 20 times the amount of duties and GST evaded or, in default, a jail sentence.
But Toh Chee Wee, 36, will serve a default jail sentence of 100 weeks' instead as he could not pay the fines.
The former owner of Yi Sheng Trading admitted to 58 charges on Thursday and had another 112 counts taken into consideration.
In a statement on Friday, Singapore Customs said after a protracted investigation, Toh was found to have under-declared the values of 234 Japanese cars between April and August 2007.
He thus paid a lower duty amount of $807,790 instead of $989,587, and a lower GST amount of $263,464 instead of $323,027.
Toh has been remanded since January as he was unable to post the $200,000 bail.
In June last year, a man was fined a total of $95,000 for similar offences in relation to a new Porsche Cayman motor car and giving false information to a Customs officer.
Since last November, 12 persons have been charged with fraudulent evasion of duty and GST. The cases are ongoing.
Apart from post-import audit checks, Singapore Customs has stepped up efforts in verifying the values declared by car importers for assessment of duty and GST.
Car importers are strongly advised to submit the actual transaction values of the vehicles to be imported. Customs said it will not hesitate to prosecute offenders who under-declare such values and push for deterrent sentences.
Under the Customs Act, importers are responsible for ensuring the accuracy and completeness of the values and other related costs declared.
