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SINGAPORE – From 2018 to 2020, a man instigated his son to make false entries in the income tax return forms of the latter\u2019s luxury watch and jewellery business.<\/p>\n
It led to over $351,000 in taxes undercharged.<\/p>\n
On Sept 7, Pang Chuan Wah, 61, was sentenced to 14 months\u2019 jail. He had pleaded guilty in August to abetting by instigating his son, Pang Guo Long, to wilfully evade taxes.<\/p>\n
Pang Chuan Wah was also ordered to pay a penalty of $1,055,361.60 to the consolidated fund, and $371,446.92 to the Inland Revenue Authority of Singapore.<\/p>\n
The younger Pang, 33, still has his case before the courts.<\/p>\n
Tax prosecutors Ian Yang and Nicholas Toh said the son was the sole proprietor of K.B. Luxury Watch and Jewellery in Jurong.<\/p>\n
It was not mentioned in court documents what role the father had in his son\u2019s business.<\/p>\n
For the years of assessment of 2018 to 2020, Pang Chuan Wah instigated his son to make false entries in the younger man\u2019s individual income tax returns.<\/p>\n
He had provided his son with understated income figures of the business, which were submitted in the tax forms.<\/p>\n
Because of this, the income tax undercharged during that period amounted to $351,787.20.<\/p>\n
Separately, in April 2018, Pang Chuan Wah also instructed his son to state in his individual income tax return that the sales from his business were $919,998, when they were in fact $10,475,437.<\/p>\n
The prosecutors said the father knew the business had exceeded $1 million in sales and that his son, its sole proprietor, was liable to be registered for GST.<\/p>\n
His actions would have resulted in GST of $108,619 to be undercharged had the offence been left undetected, added the prosecutors.<\/p>\n
It was not stated in court documents how the offences came to light.<\/p>\n
Those who evade taxes can face a penalty of up to three times the amount of taxes evaded, and can be jailed and fined.<\/p>\n<\/div>\n
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