A manager at Presido International (Presido), flouted the law when he unlawfully charged Goods and Services Tax (GST) on a total of 1,095 sales invoices issued to his customers. IRAS conducts regular audits to identify businesses that do not comply with GST laws. This case was uncovered in one of such audit programmes to check whether businesses charge, collect and claim GST correctly. Only GST-registered businesses are allowed to charge GST on their sales. It is an offence for non GST-registered businesses to issue tax invoices charging and collecting GST on their sales. Offenders face a penalty of three times the amount of tax shown on the invoice and are liable to a fine of up to $10,000. For more information, please click onto the link below: iras.gov.sg/irasHome/page03a.aspx?id=15285
Posted on: Sat, 26 Oct 2013 01:14:12 +0000
Trending Topics
Recently Viewed Topics
© 2015