- Two men to be charged for suspected fraudulent GST claims involving fake sales of S$181 million
- One man allegedly submitted fraudulent GST refund claims to cheat IRAS of S$11.8 million
- The men are accused of setting up four shell companies for fraudulent business activities
- Alleged sham transactions among companies to claim GST from IRAS
- Both men face four charges of fraudulent trading
- The 40-year-old faces additional charges of attempted cheating, forgery, and cheating
- Possible penalties include up to seven years in jail or a fine for fraudulent trading
- The 40-year-old could face up to 10 years in jail and a fine for forgery and cheating
- Authorities emphasize strict enforcement against tax offences and fraudulent arrangements
Source: channelnewsasia.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
