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 of 69 months in default.
He was also sentenced to nine months’ jail for underpaying the Additional Registration Fee (ARF) during the registration of the vehicles.
The ARF is a tax imposed when a vehicle is registered, calculated based on a percentage of the Open Market Value of the vehicle.
Low, 46, pleaded guilty to two charges under the Customs Act for evading over SGD1.8 million in taxes and duties incurred from importing 1,141 motor vehicles, including brands like Mercedes, Porsche and Tesla, into Singapore between 2017 and 2021.
The Singaporean also pleaded guilty to two amalgamated charges of giving incorrect information under the Road Traffic Act.
Another two charges of fraudulent evasion of GST, six charges of fraudulent evasion of duty and GST, five charges of causing an incorrect declaration to be made and four amalgamated charges for giving incorrect information were taken into consideration during sentencing.
