11 Feb '11, 1pm

Certified public accountant charged with helping company evade income tax: by Shaffiq Alkhatib SINGAPORE- For th...

SINGAPORE- For the first time, a certified public accountant has been charged with helping a company evade income tax by setting up a shell company in the British Virgin Islands. Forty-eight-year-old Ong Boon Lee allegedly helped Darma Consultants, a firm that supplies engineers to oilfield companies, falsify expenses totalling $86,528 in its income tax returns for 2005 and 2006. The payments were allegedly made to the company in the British Virgin Islands. A release from the Inland Revenue Authority of Singapore stated that the total amount of tax undercharged came up to more than $12,365. Darma Consultants pleaded guilty to the offence in a district on Friday and was fined $6,000. It also had to pay a penalty of $37,096 which is three times the undercharged tax. Ong, who owns Benedict & Associates auditing firm, is represented by lawyer, Mr Lawrence Lee. He will be back ...

Full article: http://www.todayonline.com/Singapore/EDC110211-0000608/Ce...

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