Case and status
Quek Lip Ngee received ten months and two weeks in prison and S$508,969 penalties for two serious fraudulent tax-evasion charges. False invoices and accounts reduced his partnership income by S$659,355 for YAs 2012 and 2014, causing S$127,242 of tax undercharged.
Facts, amounts and outcome
Fanco Fan Marketing Pte Ltd separately received a S$7,500 fine and S$50,252 penalty in July 2021. Its fictitious YA 2016 expenses of S$72,840 caused S$12,563 of tax undercharged. The release discusses the June 2021 enhanced sentencing framework, which considers tax harm and culpability. Partnership income attributable to an individual and a company’s income are separately taxable and separately penalised.
Disclosure, reporting and rewards
IRAS encourages taxpayers to correct past errors and report suspected tax malpractices. The release says disclosure may be considered when deciding enforcement action; it is not a blanket promise of immunity. Where the release describes informant rewards, qualifying information leading to otherwise lost tax recovery may attract 15% of recovered tax, capped at S$100,000, at IRAS’ discretion. Informant identities are kept confidential. Use the official release links for its reporting and disclosure channels.
Official source
This report is independently written from the IRAS release dated above. Case status, policy announcements and historical figures refer to that release.
Read the complete IRAS release ↗