Undertaker Roland Tay to pay $12,000 fine, $529k penalty
Direct Funeral Services founder Roland Tay Hai Choon, 77, was on Sept 5 ordered by the court to pay a fine of $12,000 and penalty of $529,321.28.
The well-known undertaker was convicted of offences involving the making of incorrect personal income tax returns and the failure to register for Goods & Services Tax.
An audit by the Inland Revenue Athority of Singapore uncovered that Mr Tay had, without reasonable excuse, made incorrect returns for 2011 to 2013, resulting in a total income of $250,312.49 tax being undercharged.
Additionally, the income and expenses of Direct Singapore Funeral Services & Embalming, Hindu Casket and Tong Aik Undertaker were not fully reported for the same years.
And he did not register for GST when the total value of taxable supplies for the three entities exceeded $1 million for four consecutive years.
Businesses whose taxable turnover for 12 months exceeds $1 million must apply for GST registration.
The total net GST due arising from Mr Tay's failure to register for GST was $286,962.97 from the quarter ended Dec 31, 2010, to the quarter ended Sept 30, 2013.
The profits that Mr Tay made from All Saints Care Services and 24 Hours Direct Casket, as well as losses for Defu Veterinary Clinic also went unreported.
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