Certified public accountant charged with helping company evade income tax

Certified public accountant charged with helping company evade income tax
08:50 PM Feb 11, 2011
by Shaffiq Alkhatib
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 in court on Mar 11.
This story is available online. - SHAFFIQ ALKHATIB
URL http://www.todayonline.com/Singapore/EDC110211-0000608/Certified-public-accountant-charged-with-helping-company-evade-income-tax
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