Case and status
Buntono, operator of Eminent Frog Porridge and Eminentseafood, was charged on 3 July 2026 after an IRAS–CAD investigation. The 30 charges concern alleged income tax and GST evasion, inadequate records and money laundering. The release reports charges, not a conviction.
Facts, amounts and outcome
For YAs 2016–2024, alleged understated trade income caused nearly S$2 million of income tax undercharged. Concealing the businesses’ GST-registration liability and understating income allegedly caused nearly S$1.8 million of GST undercharged. Money-laundering allegations concern possession of assets partly representing tax-evasion benefits: over S$2.4 million cash, a Lamborghini Aventador and a landed property. Record-retention and registration obligations are discussed separately in the release.
GST registration discussed in this release
The release discusses monitoring taxable turnover on a calendar-year basis, with registration required after annual taxable turnover exceeds S$1 million. It also refers to the forward-looking test where applicable. Taxable turnover is not the same as net profit. Failure to register can still leave GST payable from the liability date even if customers were not charged. The cited consequences include a 10% tax penalty and a possible fine up to S$10,000. Registration dates and procedures should be read in the context of the release year and the official guidance.
Records and supporting evidence
IRAS stresses accurate records of business income, costs and taxable transactions, supported by real invoices, receipts, bank statements and payment evidence. The release specifies five-year retention for the relevant income-tax years or GST accounting periods. Unsupported claims may be challenged, and record-keeping can be an obligation separate from paying tax. Digitised records should remain complete and traceable to the underlying transaction.
Criminal proceeds and money laundering
The release separately explains offences involving concealment, transfer, possession or use of criminal benefits. Its cited legislation permits a fine up to S$500,000, imprisonment up to ten years, or both upon conviction. Spending illicit tax refunds on business bills, personal assets or transfers abroad does not change their origin. The particular laundering allegations or convictions and amounts are set out in the case section above.
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 ↗