SINGAPORE - A tuition centre and a second-hand car trader have been fined for failing to register for Goods and Services Tax when their businesses crossed the $1 million threshold.
Tay, the director of Gunong Djati Credit Pte Ltd and Gunong Djati Trading Co Pte Ltd in Upper Serangoon Road, had failed to register for GST by April 30, 2012, despite crossing the $1 million mark in the previous quarter. Pek Kim Beng, 33, was fined $6,000 and ordered to pay a penalty of $95,584, while Pek Kim Yew, 31, was fined $2,000 along with a $14,831 penalty.
When payment is due, the students' parents would pay either in cash or by cheques. The cheques would be deposited in the relevant bank accounts, while cash received would be kept by Chee, and later paid out as cash salaries to the directors and other tutors. "There will be severe penalties for those who wilfully evade tax. Taxpayers are responsible for the information declared in their income tax returns. The authority will not hesitate to bring offenders to court," Iras said.
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