Ex-businessman fined $133k for evading GST on luxury handbags
Published on Oct 31, 2014 5:42 PM
By Elena Chong
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SINGAPORE - A former businessman who underdeclared the value of luxury handbags and accessories imported into Singapore to evade paying the full goods and services tax was fined a total of $133,000 on Friday.
Ho Theam Guan, 57, was director of Emer Asia when he fraudulently evaded GST by providing invoices with incorrect GST payments on goods imported from the United States. He committed 65 offences over two years from 2010 to 2012.
He pleaded guilty to 20 counts.The remaining 45 charges were considered during his sentencing.
Emer Asia was in the business of arranging for the import of luxury handbags and accessories for local importers, earning a commission of about 3 per cent and charging a fee for rendering freight forwarding services.
