A construction company and its director were each ordered to pay more than S$193,000 in penalties and fines for failing to account for GST on a property sale. IRAS said the company, Junling Construction & Engineering, had sold a non-residential property at Woodlands Industrial Park on Feb 9, 2011. The buyer paid the company S$1.38 million for the property and S$96,600 for GST. Cheah Wai Fun, a director at the construction company, was responsible for filing GST returns and issuing tax invoices for the company. He failed to account for the S$96,600 collected as tax in the company’s GST returns. In total, both the company and Cheah will have to pay more than S$386,000 in penalties and fines. For making incorrect GST returns, offenders face a penalty that is double the amount of tax undercharged and a fine not exceeding S$5,000 or a jail term of up to three years, or both.... Continue Reading