Web Stories Wednesday, February 28

DECLARED VALUES OF IMPORTED MOTOR CARS

Singapore Customs said it “closely monitors” the declared values of motor cars imported into Singapore and “will not hesitate to take enforcement actions on errant traders”. 

The agency added it maintains a “robust commitment” to combat fraudulent evasion of duty and GST, and will take the necessary actions against individuals and entities engaging in such illicit activities.

Singapore Customs noted that in January, five individuals involving three separate cases were charged for fraudulent evasion of duty and GST by suppressing the declared values of imported motor cars, making incorrect declaration or causing incorrect declaration to be made on the values of motor vehicles, and falsification of documents.

Court proceedings are ongoing for these cases. 

“Any person who is concerned in fraudulent evasion of any duty or GST on imported goods shall be liable on conviction to a fine of up to 20 times the amount of duty and GST evaded and/or jailed for up to two years,” Singapore Customs said. 

Any person who is concerned in fraudulent evasion of any duty or GST on imported goods can face a maximum fine of up to 20 times the amount of duty and GST evaded and jailed for up to two years.

Any person who gives incorrect information in relation to any matter affecting the amount of tax chargeable shall be liable on conviction to a fine not exceeding S$10,000 or to imprisonment for a term not exceeding six months.

“The court shall also order the offender to pay up the ARF which has been undercharged to the LTA,” Singapore Customs said. 

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