Case and status
Lim Moy Hai and Chua Kok Khoon were convicted of incorrect income-tax returns omitting rent. Lim omitted S$352,205 for YAs 2011–2013; Chua omitted S$299,769 for YAs 2012–2014.
Facts, amounts and outcome
They jointly owned 11 commercial and residential properties; Lim owned or co-owned another five. Lim received a S$9,000 fine and S$112,911 penalty; Chua received a S$7,500 fine and S$105,709 penalty, each penalty twice the tax undercharged. The release discusses rental reporting and allowable expense claims. Co-ownership does not excuse omission: each owner needs to account for the income attributable to them.
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 ↗