Why you need it
Tax evasion. IRAS investigates income tax and GST evasion. Wilful evasion is an offence under s 96 of the Income Tax Act 1947, and serious fraudulent evasion under s 96A. GST evasion is an offence under s 62 of the Goods and Services Tax Act 1993. Penalties include multiples of the tax undercharged as well as fines and imprisonment. Many cases start as a review or audit and only become criminal later, so how you respond to the first IRAS letter matters.
Securities and Futures Act 2001. Market misconduct, including false trading under s 197, insider trading under ss 218 and 219, and disclosure breaches, is investigated jointly by the Commercial Affairs Department and the Monetary Authority of Singapore. The same conduct can lead to a criminal charge, a civil penalty or both.
Corruption. The Prevention of Corruption Act 1960 makes it an offence to give or receive gratification as an inducement or reward, including through agents (ss 5 and 6). CPIB investigations often reach directors, procurement staff and the company itself. The Act also applies to Singapore citizens for acts done outside Singapore (s 37).
In each of these areas, the documents are voluminous, the investigators have had them for months, and the accused person has usually not seen them in full.
How we help
Cheryl is a Certified Fraud Examiner. We go through the accounts, transaction records and correspondence ourselves and test the prosecution’s reading of them. Where the numbers do not support the charge, we say so in writing to the prosecution, and in court if needed.
We have ample experience instructing experts, including forensic, accounting, medical and psychiatric experts. Where one is needed, we will advise you on whom to engage and how that expert can help your defence.
Our past work includes acting for a company director whose investigation for fraudulent trading of about S$5 million of wine ended with a charge of criminal breach of trust of about S$300,000; defending a client charged with cheating S$10 million in car sales; and defending clients investigated or charged by IRAS for income tax evasion and non-payment of GST. Every case turns on its own facts, and past results do not predict future ones.
- IRAS income tax and GST investigations and prosecutions
- CAD and MAS investigations under the Securities and Futures Act 2001
- CPIB investigations under the Prevention of Corruption Act 1960
- Cheating, criminal breach of trust and forgery under the Penal Code 1871
- Representations, trials, sentencing and appeals
Related practice areas
If IRAS, CAD or CPIB has written to you or your company, contact us before you reply. Contact us to arrange a confidential discussion.
The information on this page is general information only and is not legal advice. The law changes and develops over time, and nothing on this page creates a solicitor–client relationship. For advice on your own situation, please contact us.