Director gets fine and $1 million penalty for understating company's income tax

SINGAPORE - A company director has been fined $5,000 and ordered to pay a penalty of more than $1 million for helping his company, used-car dealer BW Automobiles, understate income tax.He was charged with abetting his company to understate over $6 million in income tax returns between 2011 and 2013.

In a statement issued on Friday , the Inland Revenue Authority of Singapore reminded members of the public that it takes a serious view of non-compliance and tax evasion.

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The Straits Times /  🏆 8. in BUSİNESS

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Director gets fine and $1 million penalty for helping his company evade income taxSINGAPORE - A company director has been fined $5,000 and ordered to pay a penalty of more than $1 million for helping his company, used-car dealer BW Automobiles, evade income tax.. Read more at straitstimes.com.
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Director gets fine and $1 million penalty for helping his company evade income taxSINGAPORE - A company director has been fined $5,000 and ordered to pay a penalty of more than $1 million for helping his company, used-car dealer BW Automobiles, evade income tax.. Read more at straitstimes.com.
Read more »