Case and status
Foster Asia Pacific and Ematco Industrial directors Koh Kok Huat and Adrian Yeo were convicted of omitting company bonuses from personal income-tax returns. Each admitted one of three charges, with two considered, and received three weeks’ imprisonment.
Facts, amounts and outcome
Koh’s penalty was S$93,086 and Yeo’s S$68,797. For YAs 2011–2013 they omitted S$337,000 and S$280,360 respectively. Bonus cash cheques were supported by vouchers calling them subcontractor fees and booked under that account. Labelling remuneration as a company expense did not remove its character as the recipient’s employment income. The penalties related to the proceeded charges, not all three years combined.
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 ↗