Man fined $10.8m

• QX179R

  7 Jul 09, 00:30

  A man was fined $10.8 million for evading customs duties and goods and services tax on parallel car imports.

  33-year-old Tay Kien Chuan faced 1,995 charges.

  He admitted to 327 charges; the rest were taken into consideration

  If he can’t pay the fine, he’ll spend more than 7 years in jail.

  Among the charges proceeded against Tay, then owner of car trading company 8th Gear, were falsely declaring the actual value of high end cars imported from Britain last year.

  Tay also intentionally under-declared the values of some 640 cars imported from Japan between June 2006 and July 2007 to avoid full payment of excise duty and GST.

  The total duty and GST involved amounted to over $2.5 million.

  --938Live

• lianamaster

  16 Jul 09, 22:04

  Wow....

• zenden9

  16 Jul 09, 22:07

  Drive a car and bang /kill someone. U get few years ban and the most $10k fine..

  U cheat PAP government money and u will....