Case and status
BW Automobiles director Low Soon Leong faced three charges for assisting the company to omit over S$6 million of income for YAs 2011–2013, while only S$1.24 million was declared. The overall understatement caused more than S$1 million of tax undercharged.
Facts, amounts and outcome
One charge proceeded for omission without reasonable excuse; two were considered in sentencing. Low was ordered to pay a S$1,006,122 penalty, twice the tax undercharged on the proceeded charge, and a S$5,000 fine. The release records the court’s financial sentence and does not state a prison term. Overall investigated income and the amount used for the proceeded penalty must be read separately.
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 ↗