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Sunday, February 25, 2024
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MAN FINED $6 MILLION FOR FRAUDULENT EVASION OF GST OF 1,828 VEHICLES IMPORTED

Singapore, 22 January 2024 – The sole proprietor of M’ Exclusive, Low Han Siang (刘汉祥) (“Low”), a 46-year-old male Singaporean, was fined $6 million by the State Courts on 19 January 2024 for fraudulent evasion of duty and Goods and Services Tax (GST) on 1,828 motor vehicles imported into Singapore between April 2017 and June 2021. He was also sentenced to nine months’ imprisonment for underpaying the Additional Registration Fee (ARF) during the registration of the vehicles.

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Low pleaded guilty to two charges under the Customs Act for fraudulent evasion of duty amounting to about $1,819,865 for the imports of 1,141 motor vehicles. Another two charges of fraudulent evasion of GST amounting to about $764,343 involving the same motor vehicles, six charges of fraudulent evasion of duty and GST for the imports of 687 vehicles, with a total evaded amount of about $679,072, and five charges of causing an incorrect declaration to be made were taken into consideration during sentencing.

Low also pleaded guilty to two amalgamated charges of giving incorrect information under section 11(9) of the Road Traffic Act in relation to the value of 738 motor vehicles. Four more amalgamated charges for giving incorrect information under section 11(9) of the Road Traffic Act in relation to the values of 1,033 motor vehicles were taken into consideration during sentencing. The incorrect information resulted in a shortfall of $16,256,433 of ARF.

Singapore Customs launched an investigation into M’ Exclusive after suspecting the values of motor vehicles submitted to Singapore Customs for assessment of duty and GST payable were under-declared.

Investigations revealed that between April 2017 and June 2021, Low created false invoices or requested his suppliers to issue multiple invoices with partial values to conceal the actual values of the imported cars. These invoices were submitted to Singapore Customs for assessment of duty and GST.

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The suppression of the values of the 1,828 motor vehicles between April 2017 and June 2021 resulted in the short payment of duty and GST amounting to about $3,263,280.

Investigations also revealed that Low had instructed his employee, Lee Pak How (李佰豪) (“Lee”), a 33-years old male Singapore Permanent Resident, to falsify invoices with suppressed values determined by Low. Lee was fined $10,000 by the State Courts on 13 January 2023 for falsification of documents. He pleaded guilty to one charge of falsification of documents, while another similar charge was taken into consideration during sentencing.

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