[ad_1]
SINGAPORE – A man who sold mobile phones has become the first person in Singapore to be charged with failing to register goods and services tax (GST) for online sales.
Edwin Pang Chung Jie used to own two companies, Edmobile and Moggi, through which he sold mobile phones and accessories on platforms such as Lazada, Shopee and Carousell.
The 40-year-old Singaporean was also charged on Friday (Oct. 30) with two counts of filing incorrect income tax returns without a reasonable excuse, as well as two counts of failing to keep proper records of invoices he received related to his businesses. .
In a statement, the Internal Revenue Authority of Singapore (Iras) said the total amount of taxes collected and owed is $ 129,411.
On October 30, 2013, Pang allegedly failed to notify the GST Controller of his obligation to register for the tax.
This is said to have resulted in $ 118,023.23 in taxes owed for the period between December 1, 2013 and September 30, 2015.
Pang is accused of misreporting by underestimating his income on April 16, 2014, resulting in lower income tax collected totaling $ 8,792.87.
On April 16, 2018, it is said that you underestimated your income tax return by $ 26,336.27.
This allegedly led to $ 2,595.74 in less collected income taxes.
Pang is also accused of failing to keep proper invoice records on multiple occasions between January 1, 2013 and July 17, 2018.
Iras said in its statement that between 2015 and last year, it recovered more than $ 3.8 million in taxes and penalties from 65 audit cases from taxpayers operating online businesses.
He added that, as with traditional companies, “all income from e-commerce and online companies in Singapore must be reported for tax purposes.”
“To make sure they pay the correct amount of taxes, companies must maintain good record keeping by keeping a complete physical or digital record of income and expenses, such as invoices, receipts, vouchers, bank and credit card statements, invoices, checks , proof of payments and other documentary evidence, “said Iras.
The court heard that Pang intends to admit his crimes.
His bond was set at $ 40,000 and he will return to court on November 27.
Failure to register for the GST is a crime and errant businesses may have to pay 10 percent of the GST owed as a fine and may incur a fine of up to $ 10,000.
[ad_2]
