Another company and director hauled up by IRAS on 29 July for creating fictitious invoices and false entries. The company – Republic Beverages Co Pte Ltd committed this fraud in order to claim GST refund claims. The director was sentenced to 4 months jail and fines up to almost $200,000!
Therefore, I always advise clients to make sure all GST transactions are properly supported by suppliers’ invoices and sales invoices/ receipts. This is to make sure when IRAS conducts audit, we are ready and have all the supporting documents to back up the figures that was submitted.
Company and Director charged in court for GST fraud
