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
