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GST fraudster jailed 15 months and fined $1.2m

Published on Jul 10, 2014 4:24 PM
 
Businessman Chia Puay Yeoh was jailed for 15 months on Thursday, July 10, 2014. for cooking his books to claim Goods and Services Tax (GST) refunds he was not entitled to.  -- ST PHOTO

SINGAPORE - A businessman who cooked the books to claim Goods and Services Tax (GST) refunds he was not entitled to was jailed for 15 months on Thursday

Chia Puay Yeoh was also ordered to pay a penalty of just over $1.2 million - equivalent to three times the tax he was undercharged.

The 50-year-old, who faced 122 charges involving around $900,000, had pleaded guilty to 45 counts of creating false entries in GST returns to evade tax amounting to more than $400,000.

This was done through four companies he was involved in and another six run by other people, for various accounting periods between 2005 and 2007.

 
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