Property Agent Jailed for stamp duty
fraud
He used eight bogus certificates to cheat
taxman of $3,700
By SELINA LUM
A 24-YEAR-OLD property agent was yesterday jailed
for 12 weeks for using fake stamp certificates, in the
first case of its kind.
Desmond Tan Hock Heng, who was with Dennis Wee Group,
admitted cheating the Commissioner of Stamp Duties of $3,694 by
using eight bogus stamp certificates in seven property rental
deals.
Separately, he was jailed for another two weeks for
pocketing rent payments that two clients had entrusted to him,
amounting to $4,600 in one case and $3,600 in the other.
Tan is the first property agent to be charged under the
Stamp Duties Act for passing off counterfeit stamp certificates as
genuine.
Stamp duty is a tax on documents or agreements relating
to properties, such as lease agreements, options to purchase, and
sale and purchase agreements.
After stamp duty has been paid, a stamp certificate will
be issued.
Stamping and payment of stamp duty for leases and tenancy
agreements are made online via the Inland Revenue Authority of
Singapore's (Iras) e-Stamping system.
When a document needs to be stamped, the user would log
on to the system to fill in an electronic form, after which the
system would generate a unique document reference number.
After payment is made, the system would generate the
certificate bearing the unique number. The user can then print the
certificate from his computer.
Acting on a tip-off, Iras started looking into various
rental transactions handled by Tan.
Investigations show that Tan, using a genuine certificate
from a previous deal he had handled, forged eight stamp
certificates by altering details such as the addresses, names of
the landlords and tenants, stamp duty amounts and dates of
documents.
He then presented these bogus certificates to
unsuspecting landlords, agents of the landlords and tenants.
He later deleted the original and fake certificates, but
Iras' forensic teams recovered them from his desktop computer and
laptop.
Yesterday, he pleaded guilty to five counts of using
counterfeit stamp certificates between January and April last
year.
Another three counts were taken into consideration.
Iras said it takes a very serious view of non-stamping
and stamp duty fraud.
Any person or business that deliberately counterfeits
stamp certificates and knowingly misrepresents them as genuine
faces a fine of up to $10,000 and up to three years' jail.
Members of the public can check the authenticity of stamp
certificates on the e-Stamping website at https://estamping.iras.gov.sg
Cases of stamp certificate fraud can be reported to Iras
at [email protected] or on 6351-3697/3698.
home, The Straits Times, Wednesday, May 16 2012, Pg B9