SINGAPORE - A businessman was charged in court on Friday (June 23) with 54 counts of tax evasion involving a total of $458,019.69 in taxes undercharged.
Foo Tee Suan, the sole proprietor of FTH Enterprise, which deals with general contractors, allegedly committed the offences between 2005 and 2007.
Foo, now 53 and who also holds positions in three other companies, is accused of making false entries in his Goods and Services Tax returns for all four firms.
According to court documents, he is a partner at Hwa Rong Import & Export, and general wholesale company F & T Top System Enterprise.
He is also a director of another general wholesale firm Hwa Rong Enterprise.
Nineteen charges allegedly involve FTH Enterprise while 13 charges allegedly involve F & T Top System Enterprise.
Hwa Rong Import & Export and Hwa Rong Enterprise are named in 11 charges each.
On each occasion, he is accused of undercharging between $5,426.93 and $12,948.15 in taxes.
Foo, who is unrepresented, asked the count for an adjournment on Friday as he wanted to seek legal advice.
He is now out on a bail of $10,000 and will be back in court on July 14.
If convicted of tax evasion, he could be ordered to pay a penalty of three times the amount of tax undercharged.
For each charge, he can also be jailed up to seven years and fined up to $10,000.