Junling Construction & Engineering, and its director, Cheah Wai Fun, were each ordered to pay the penalty of $191,268 and a fine of $2,000 for failure to account GST on a property sale.
In a release, the Inland Revenue Authority of Singapore (IRAS) stated the construction company sold a non-residential property at Woodlands Industrial Park on 9 February 2011.
The buyer paid $1.38 million for the property as well as $96,000 for GST.
However, Cheah, who was responsible for filing GST returns and issuing tax invoices for the company, failed to account the $96,600 collected as output tax in the company’s GST return.
In all, Junling Construction & Engineering and Cheah will have to pay over $386,000 in penalties and fines for the GST offence.
For making incorrect GST returns, offenders face a penalty that is double the amount of tax undercharged and a fine not exceeding $5,000 or imprisonment of up to three years, or both.
Muneerah Bee, Senior Journalist at PropertyGuru, edited this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
