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Oct 9, 2009
Firm fined for tax evasion <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Diana Othman </td></tr> </tbody></table>
A COMPANY which failed to pay composition fines of $5,200 for defaulting on Goods and Services Tax (GST) for imports ended up with a bigger fine.
It was thus slapped another $10,200 fine on OBS Logistics, a courier agent, for having defaulted on GST payment totalling $34,333.74 on 104 counts from July to December 2008, said Singapore Customs in a statement released on Thursday. The goods declared and imported included household items, machinery, cameras, sports goods, fabrics, and other accessories. OBS Logistics had already demonstrated poor compliance record for defaulting GST payment as early as 2005, said a statement from Singapore Customs on Thursday. It was given extended deadlines to pay up on several occasions, some as long as two months. But it continued to default on GST payments for the 104 offences. Customs decided to offer composition fines to OBS Logistics but the company refused to pay the $5,200 fines. Customs took the company to court in May. The firm pleaded guilty to 34 charges under the Customs and GST Acts, with the remaining 70 charges taken into consideration by the Court.
Oct 9, 2009
Firm fined for tax evasion <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Diana Othman </td></tr> </tbody></table>
A COMPANY which failed to pay composition fines of $5,200 for defaulting on Goods and Services Tax (GST) for imports ended up with a bigger fine.
It was thus slapped another $10,200 fine on OBS Logistics, a courier agent, for having defaulted on GST payment totalling $34,333.74 on 104 counts from July to December 2008, said Singapore Customs in a statement released on Thursday. The goods declared and imported included household items, machinery, cameras, sports goods, fabrics, and other accessories. OBS Logistics had already demonstrated poor compliance record for defaulting GST payment as early as 2005, said a statement from Singapore Customs on Thursday. It was given extended deadlines to pay up on several occasions, some as long as two months. But it continued to default on GST payments for the 104 offences. Customs decided to offer composition fines to OBS Logistics but the company refused to pay the $5,200 fines. Customs took the company to court in May. The firm pleaded guilty to 34 charges under the Customs and GST Acts, with the remaining 70 charges taken into consideration by the Court.
