Manager of freight forwarding company fined more than S$60,000 for evading GST

SINGAPORE: A Singaporean man was fined S$63,834.90 by the State Courts on Thursday (May 12) for fraudulent evasion of the Goods and Services Tax (GST) payable on the importation of miscellaneous items between April and August 2019. 

Foong Zhong Wen, 42, the supervisor of freight forwarding company Swiftfox, pleaded responsible to fifteen expenses of fraudulent evasion of GST.

Another 29 related expenses had been considered throughout sentencing, Singapore Customs mentioned in a press launch on Saturday.  

“Foong’s fraudulent actions resulted in the underpayment of GST to Singapore Customs,” the company mentioned.

The quantity of GST evaded by Foong totalled S$15,128.26.

Singapore Customs had commenced investigations into Swiftfox for suspected underdeclaration of worth of items after discrepancies had been present in some cargo clearance permits.

Investigations revealed that one of Foong’s prospects engaged his company to deal with the customs clearance of their shipments from China.

The buyer’s China freight forwarder would offer Foong with a consolidated manifest to use for cargo clearance permits. As half of the companies, Swiftfox could be declared because the importer for the shipments, mentioned Singapore Customs. 

“Foong would intentionally suppress the value of the goods by amending their values on the consolidated manifest, before furnishing it to the declaring agent to apply for cargo clearance permits,” Singapore Customs mentioned.

The declaring agent would pay Singapore Customs the GST based mostly on the suppressed values said within the consolidated manifest it obtained from Swiftfox, after which invoice Swiftfox accordingly, added Singapore Customs.

Foong would then acquire the GST payable based mostly on the unique paperwork from his buyer and revenue from the variations. 

Foong did this with 52 cargo clearance permits between April and August 2019.

The 15 expenses he pleaded responsible to concerned 18 cargo clearance permits, with a whole S$7,677.95 in GST evaded.

The 29 expenses considered throughout sentencing concerned 34 cargo clearance permits, with a complete of S$7,450.31 in GST evaded.

Anyone concerned within the fraudulent evasion of any responsibility, or trying to fraudulently evade any responsibility, faces a high-quality of as much as 20 instances the quantity of responsibility and GST evaded.

Manager of freight forwarding company fined more than S$60,000 for evading GST

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