SINGAPORE: A company director was fined S$64,000 for evading Goods and Services Tax on 46 shipments of bicycle frames and components, Singapore Customs said on Friday .
However, from supporting documents provided by the freight forwarder of the consignment, it showed that the actual value of the bicycle wheels was more than S$23,000. This resulted in a short payment of S$$1,521.93 in GST. Understating the import values resulted in a total of S$$8,933.15 in GST unpaid for these 31 shipments.
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