A handbag retailer was fined $190,000 for making $54,460 worth of fraudulent GST returns.
According to Singapore Customs:
Between October 2011 and October 2013, Yu Chung Tan, 47, a partner of LovethatBag LLP, imported 2,338 branded handbags by parcel post on 41 occasions. He instructed his suppliers to indicate the value of the goods imported as below $400 in the import documents submitted to Singapore Customs, in an attempt to avoid the payment of GST. Goods imported by parcel post, except dutiable goods, are not subject to GST when the value of the goods is below $400
Singapore Customs has warned that if you try to cheat the authorities of GST, you could be fined up to 20 times the amount of tax evaded, and be jailed for up to 2 years.
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