SG man, 61, gets 14 months’ jail + S$1.4M penalty for instigating son to evade income tax and GST in luxury watch business
The businessman directed his son to understate business income and avoid GST registration, despite the watch trade making more than S$10 million in sales This article ( SG man, 61, gets 14 months’ jail + S$1.4M penalty for instigating son to evade income tax and GST in luxury watch business ) first appeared on The Independent Singapore News .
A 61-year-old businessman from Singapore has been sentenced to 14 months in prison and fined S$1.426 million for orchestrating tax evasion schemes involving his son. Pang Chuan Wah directed his son to submit false income figures and conceal the luxury watch business's GST registration liability. This deception resulted in S$351,787.20 in income tax and S$108,619.81 in GST being undercharged between 2017 and 2020.
The offences, which took place while the business was registered under his son's name, represent the first prosecution of its kind for a business in Singapore's pre-owned luxury watch trade. The case underscores how tax crimes can affect not only the individual named on business records but also their family members.
Written by urgent.news from The Independent Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
