The owner of Eminent Frog Porridge in Geylang has been charged in court for evading almost $3.8 million in taxes and laundering the unlawful proceeds on Friday (July 3).
Buntono, a 49-year-old Singaporean, allegedly understated his trade income for assessment years between 2016 and 2024, according to court documents seen by AsiaOne.
As a result, the authorities estimate that nearly $2 million in income tax was undercharged.
He was handed 30 charges, comprising three counts of money laundering and 27 counts of tax-related offences, following a joint investigation by the Inland Revenue Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.
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