Union Casket boss fined and penalised more than $250,000 for evading taxes
A funerals business boss has been caught for tax evasion in the first such case here.
William Quek, 60, the funeral director of Union Casket, was yesterday ordered to pay fines and penalties of $256,976.
He was convicted of giving incorrect information in his goods and services tax registration form and also submitted an incorrect income tax return.
He will also have to pay back $132,382 in back-dated taxes to the Inland Revenue Authority of Singapore (Iras). He pleaded guilty to both charges.
Quek has run the family business for more than 20 years, and was previously lauded for arranging free funerals for destitute old folk.
According to a release from Iras yesterday, Quek applied to register Union Casket for GST in February 2006. He had at that time claimed the business' taxable supplies only exceeded $1 million in December 2005.
But it had actually exceeded the $1 million threshold earlier, in December 2002.
Businesses with a taxable turnover of more than $1 million are legally required to register for GST. - DAVID SUN