Singarpore: A court in Singapore has imposed a hefty financial penalty and a short prison sentence on an Indian-origin businessman for manipulating import declarations of luxury vehicles to avoid paying full duties and taxes.
The accused, Thiyambarawatta Subash Indrajith, who heads the automobile firm Concordway, admitted to multiple offences under the Customs Act. Authorities said he under-reported the value of dozens of imported cars, including high-end models such as those from Porsche, over a period spanning several years.
According to a joint statement by Singapore Customs and the Land Transport Authority, the violations resulted in significant losses to the state in terms of unpaid import duties and registration fees. The court ordered the director to pay a fine exceeding one million Singapore dollars and also handed down a two-month jail term.
Investigators found that the company used falsified invoices reflecting lower vehicle prices when submitting documents to customs authorities. The difference between the actual cost and the declared amount was allegedly settled through separate transactions, making it harder to trace the full payment trail.
The case came to light after irregularities were flagged in the import documentation of a sports car, prompting further scrutiny. Subsequent investigations uncovered a pattern of similar declarations across multiple vehicle imports.
Officials said the accused also assisted clients in securing such arrangements in exchange for commissions, coordinating with overseas suppliers to generate understated invoices. In some instances, payments were consolidated and routed in bulk to conceal discrepancies.
Authorities emphasised that strict enforcement measures are in place to deter tax evasion and fraudulent declarations. They warned that individuals and businesses found engaging in such practices could face severe financial penalties and imprisonment under Singapore’s laws.
The case underscores the country’s firm stance on maintaining transparency in trade practices and ensuring compliance with customs and taxation regulations.
