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Director jailed for tax evasion
Posted: 02 March 2012 1235 hrs
SINGAPORE: The director of a metal stamping firm has been sentenced to two weeks' jail for tax evasion.
Fifty-nine-year-old Lim Bee Hua was convicted of assisting Global Harvest Precision Private Limited, a firm he headed, in evading more than S$73,800 worth of taxes.
Both Lim and the firm omitted income totalling S$405,791 from the company's tax returns for Years of Assessment 2006 and 2007.
The court ordered Global Harvest Precision to pay a penalty of S$221,558, three times the total amount of tax evaded.
It was also fined S$12,000.
Three other similar offences were compounded.
Lim could have been jailed up to three years.
- CNA/wk
