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.
