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Woman arrested, 179 luxury watches worth over S$1 million seized in IRAS raids
The raids were part of an islandwide sweep of more than 20 business premises and residential locations.
Raids conducted by IRAS led to the arrest of a 56-year-old woman, with 179 luxury watches estimated to be worth more than S$1 million seized in connection to the investigation. (Photos: IRAS)
19 Mar 2026 11:23AM (Updated: 19 Mar 2026 12:31PM)
SINGAPORE: A 56-year-old woman was arrested and 179 luxury watches estimated to be worth more than S$1 million (US$780,500) were seized following raids by the Inland Revenue Authority of Singapore (IRAS) to clamp down on Goods and Services Tax (GST) refund fraud schemes.
The suspect, who is involved in one of the cases, is believed to have created fictitious purchases, inflated transactions and used false tax invoices to support fraudulent GST refund claims, IRAS said in a media release on Thursday (Mar 19).
Accounting records, electronic devices and other evidence linked to the alleged offences were also seized.
Seven other individuals from other cases are assisting with investigations, IRAS said.
The authority launched islandwide raids at more than 20 business premises and residential locations on Tuesday, as part of investigations into suspected GST refund fraud cases.
The authority said that businesses across various industries were identified in separate GST refund fraud cases, including those in the logistics and wholesale trade sectors.
Some involved "the alleged use of shell companies to facilitate fraudulent GST refund claims".
IRAS said it conducts regular audit programmes to detect anomalous GST refund claims and ensure they comply with the rules.
In 2025, more than 1,300 businesses making GST refund claims were audited, uncovering various forms of non-compliance, including incorrect GST filings and unsupported refund claims, it said.
These audits resulted in a recovery of more than S$100 million in taxes and penalties.
"While most non-compliance is due to poor internal controls or incorrect application of GST rules, IRAS’ audits also uncover fraudulent GST refund claims," the authority said.
IRAS warned that it will take firm action against those who attempt to abuse the GST system.
Those convicted of deliberate GST fraud may face a penalty of three times the amount of tax undercharged, in addition to a fine not exceeding S$10,000 and/or a jail term of up to seven years.
The authority added that businesses that identify errors in their submissions are encouraged to make voluntary disclosures to correct these errors, as reduced penalties may apply.
"IRAS will treat such disclosures as mitigating factors when considering actions to be taken."
