SINGAPORE: Nine online retailers were fined between S$4,500 and S$133,000 last year for evading Goods and Services Tax (GST) payments by submitting fake invoices or under-declaring the value of goods on their import declarations, the Singapore Customs said here the other day.
The Singapore Customs has observed an emerging trend of online retailers attempting to evade or under-declare their goods imported from overseas, and are keeping a close watch on such illegal practices, it said in a statement.
It highlighted a case in which Ms Lee Bee Yee, an online retailer of luxury handbags and accessories was fined S$23,000 last November for failing to declare and pay GST on 195 handbags and wallets she had purchased overseas and hand-carried into Singapore. She had also under-declared the values of another 201 handbags and wallets imported to Singapore by mail. The total GST evaded exceeded S$12,000, the Singapore Customs said.
“Under the Customs Act, it is the responsibility of importers to ensure the accuracy and completeness of the values and other related costs declared to Singapore Customs. Under-declaration of the values is a serious offence as it will result in under-payment of duty and import GST payable,” the Singapore Customs said.
Persons found guilty of fraudulent evasion of duties or GST can be fined up to 20 times the amount evaded, and face imprisonment, or both, the Singapore Customs said.
