added tax
Six insurance agents working at the same agency in Singapore jailed for falsifying expense claims to evade nearly S$100,000 in taxes
Informants who provide information or documents that lead to a recovery of evaded taxes will be given a cash reward of 15 per cent of the tax recovered, the Inland Revenue Authority of Singapore said. — TODAY pic
Saturday, 17 Sep 2022 10:52 AM MYT
SINGAPORE, Sept 17 — Six insurance agents were jailed and penalised for tax evasion yesterday after they claimed false business expenses and collectively reduced their income taxes by close to S$100,000.
The six, who used to work at the same agency, pleaded guilty to making false entries to evade tax.
They are:
- Yvonne Quah, 34, who was jailed for eight weeks and ordered to pay S$113,839 for evading S$37,946 in personal income taxes
- Lim Zhan Yi, 32, who was jailed for five weeks and ordered to pay S$83,610 for evading S$27,703 in taxes
- Chan Jun Yi, 33, who was jailed for two weeks and ordered to pay S$27,531 for evading S$9,010 in taxes
- Sherlin Chia Hee Ping, 41, who was jailed for 10 days and ordered to pay S$32,542 for evading S$10,680 in taxes
- Chanel Quah Hui Wen, 31, who was jailed for one week and ordered to pay S$14,433 for evading S$4,644 in taxes
- Jackie Tang Hong Kong, 42, who was jailed for four days and ordered to pay S$8,465 for evading S$2,655 in taxes
Court documents did not state which agency they worked for but checks online revealed that they represented Great Eastern Financial Advisers.
The Inland Revenue Authority of Singapore (Iras), which brought the charges against them, said in a statement that for the 2018 and 2019 tax assessment years, the six had claimed business expenses amounting to about S$600,000 in their income tax returns as “general expenses” and “commissions paid to introducers”.
Investigations found these to be a sham.
“The six
6 insurance agents working at the same agency jailed for falsifying expense claims to evade nearly S$100,000 in taxes
SINGAPORE — Six insurance agents were jailed and penalised for tax evasion on Friday (Sept 16) after they claimed false business expenses and collectively reduced their income taxes by close to S$100,000.
The six, who used to work at the same agency, pleaded guilty to making false entries to evade tax.
They are:
- Yvonne Quah, 34, who was jailed for eight weeks and ordered to pay S$113,839 for evading S$37,946 in personal income taxes
- Lim Zhan Yi, 32, who was jailed for five weeks and ordered to pay S$83,610 for evading S$27,703 in taxes
- Chan Jun Yi, 33, who was jailed for two weeks and ordered to pay S$27,531 for evading S$9,010 in taxes
- Sherlin Chia Hee Ping, 41, who was jailed for 10 days and ordered to pay S$32,542 for evading S$10,680 in taxes
- Chanel Quah Hui Wen, 31, who was jailed for one week and ordered to pay S$14,433 for evading S$4,644 in taxes
- Jackie Tang Hong Kong, 42, who was jailed for four days and ordered to pay S$8,465 for evading S$2,655 in taxes
Court documents did not state which agency they worked for but checks online revealed that they represented Great Eastern Financial Advisers.
The Inland Revenue Authority of Singapore (Iras), which brought the charges against them, said in a statement that for the 2018 and 2019 tax assessment years, the six had claimed business expenses amounting to about S$600,000 in their income tax returns as “general expenses” and “commissions paid to introducers”.
Investigations found these to be a sham.
“The six insurance agents neither paid any ‘introducer fees’ to these purported introducers nor received any services from them,” Iras added.
Tax prosecutor Goh Yong Ngee said that the tax evaders were allegedly aided by two others: Former insurance agent You Yiying and her acquaintance Ian