On Monday , Grace Tay Chor Ing, the sole proprietor of the company, pleaded guilty to a single charge of income tax evasion and was sentenced to 25 days' imprisonment and a fine of S$74,540.25.According to documents for the charge that the prosecution proceeded with, Tay had omitted her income of S$244,206 from her personal income tax return for Year of Assessment 2018, which resulted in S$24,846.75 of taxes being undercharged.
Iras prosecutor Vidhya Maheantharan told the court that Tay had only reported her employment income from Teck Hin in her income tax return for Year of Assessment 2018, and had omitted to declare income that she had earned from her own company. Tay's defence lawyer Li Hern Kuan of Insights Law, meanwhile, noted that his client had voluntarily told Iras about her omissions, and this should be considered as a mitigating factor for a lighter sentence.
"She was literally caught red-handed when the Iras officers raided her parents' home," said the judge.
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