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SINGAPORE — The owner of a car trading firm was fined $6 million after evading payment of duty and goods and services tax (GST) for 1,828 vehicles he had imported. Singapore Customs in a statement on Jan 22 said Low Han Siang, 46, was also sentenced to nine months’ jail for underpaying the additional registration fee (ARF) when registering the...
Singapore News - The owner of a car trading firm was fined $6 million after evading payment of duty and goods and services tax (GST) for 1,828 vehicles he had imported. Singapore Customs in a statement on Jan 22 said Low Han Siang, 46, was also sentenced to nine months’ jail for... Read more at www.tnp.sg
CNA – A Singaporean man was fined SGD6 million for evading duty and Goods and Services Tax (GST) on imported 1,828 motor cars imported into Singapore. Low Han Siang, the sole proprietor of car importer M’ Exclusive, paid SGD500. If he does not pay the rest, he will have to serve an additional jail term […]
Under-declaration of the vehicles’ value resulted in loss of duty and GST amounting to $3,263,280. Read more at straitstimes.com.
Low Han Siang, the sole proprietor of car importer M’ Exclusive, will serve 60 months' jail in default if he does not pay the fine.