Company director pleads guilty to submitting false PIC claim

[SibeiKuaiLan]

Updated: 02/14/2014 18:11 | By Channel NewsAsia

Company director pleads guilty to submitting false PIC claim

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SINGAPORE: A company director has pleaded guilty to submitting a false Productivity and Innovation Credit (PIC) claim in order to obtain a cash payout of S$60,000 for his company.

Alex Rajan, a 47-year-old director of machinery equipment manufacturer Exel Mitsui Technologies Pte Ltd, will be sentenced next Friday.

The company has also been ordered to pay a fine of S$8,000 and a penalty of S$180,000.

This is the second case of a company and its director making false claims to benefit from the PIC Scheme, which was set up to support businesses that invest in innovation and productivity improvements.

In September, Khoo Tzyh Shin, the director of computer hardware company Greenit Pte Ltd, was sentenced to eight weeks' jail for fraudulently claiming a PIC cash payout of S$58,143.60.

Greenit was fined S$10,000 and ordered to pay a penalty of S$232,574.40, which is four times the amount of cash payout that it had fraudulently claimed. - CNA/ms

 

[SibeiKuaiLan]

Updated: 02/21/2014 13:07 | By Channel NewsAsia

Company director gets 5 weeks' jail for PIC fraud

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SINGAPORE: A company director was sentenced to five weeks' jail for submitting a false Productivity and Innovation Credit (PIC) claim to obtain cash payout of S$60,000 for his company.

Alex Rajan Anthony Samy, 47, the director of Exel Mitsui Technologies Pte Ltd (EMTPL), was also ordered to pay a penalty of S$180,000 for the offence.

The company had earlier been ordered to pay a fine of S$8,000 and a penalty of S$180,000.

The Inland Revenue Authority of Singapore (IRAS) said this is the second case of a director and its company to be charged for making false PIC claims.

Alex Rajan had made a false declaration in a PIC cash payout application form that EMTPL had purchased PIC automation equipment for S$168,000 and that his company met the qualifying conditions for the cash payout.

IRAS' investigations showed that EMTPL did not incur such an expenditure on the equipment.

The company also did not employ or make CPF contributions for at least three local employees in the relevant period.

It was found that EMTPL had never been in active business operation.

Offenders convicted of PIC fraud are liable to pay a penalty of up to four times the amount of cash payout fraudulently obtained, and a fine of up to S$50,000 and/or jail of up to five years. - CNA/nd

 

[rolleyez]

Alex Rajan Anthony Samy, 47, director of Mitsui Technologies Pte Ltd, was sentenced to five weeks in jail on Feb 21, 2014 for fraudulently claiming
a Productivity and Innovation Credit (PIC) cash payout of $60,000 for his company. -- ST FILE PHOTO: WONG KWAI CHOW


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