Company director to be charged with tax, money laundering offences
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SINGAPORE – A 38-year-old Malaysian woman is slated to be charged in court on July 9 for her suspected involvement in tax and money laundering offences.
In a joint statement on July 8, the Inland Revenue Authority of Singapore (Iras) and the police said investigations into the woman began in September 2024.
She was suspected of being involved in setting up multiple goods and services tax registered entities to claim fraudulent GST refunds from Iras.
Investigations found that these entities had no substantial business activities and could not support the claims.
The woman and the entities set up by her are suspected to have filed more than $1.4 million of such fake claims between August 2017 and October 2024.
The Commercial Affairs Department, working with Iras, began investigating the woman as there were indications of money laundering offences committed.
The investigation then revealed that the woman had allegedly transferred $213,000 between December 2019 and May 2024 to move the money out of Singapore’s jurisdiction.
The funds were her suspected benefits of criminal conduct, the authorities said.
She is slated to face 97 charges in total for tax and money laundering offences.
