Singapore Man Fined for Evading Import Taxes
Singapore Customs fined a man more than $72,000 for suppressing the import values of cell phone parts in an attempt to avoid import taxes, Singapore said in a Nov. 6 press release. Jimmy Ong, a partner of Quality Comm LP,…
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a mobile phone repair company, was charged with 48 counts of fraudulent evasion of Singapore’s Goods and Services Tax, the press release said. He pleaded guilty to 16 of the charges. Singapore Customs discovered the scheme in 2018 when they inspected boxes consigned to Ong at the Changi Airfreight Centre, the agency said. Authorities said Ong falsified the value of the goods by labeling the 542 phone parts as worth less than $400 when they were actually worth almost $8,000. Ong imported the parts from Chinese suppliers 48 times between 2015 and 2018, Singapore said, resulting in more than $14,000 worth of evaded import taxes.