Man gets jail, S$1.4 million penalty for instigating son to evade taxes on luxury watch business
A 61-year-old man in Singapore was sentenced to 14 months in jail and fined S$1.4 million for orchestrating a tax evasion scheme involving his son's luxury watch business. The scheme involved under-declaring income and avoiding GST registration.
Why it matters
This case marks the first prosecution of its kind in the pre-owned luxury watch industry, signaling stricter tax enforcement.
This is the first prosecution involving a business in the pre-owned luxury watch industry.
The Inland Revenue Authority of Singapore building. (Photo: CNA/Gaya Chandramohan)
Renee Kuek 07 Sep 2026 09:26PM Bookmark Bookmark Share WhatsApp Telegram Facebook Twitter Email LinkedIn Set CNA as your preferred source on Google Add CNA as a trusted source to help Google better understand and surface our content in search results. Read a summary of this article on FAST. Get bite-sized news via a new cards interface. Give it a try. Click here to return to FAST Tap here to return to FAST FAST SINGAPORE: A 61-year-old man was sentenced on Monday (Sep 7) to 14 months’ jail and ordered to pay a penalty of more than S$1.4 million for instigating his son to evade taxes on a luxury watch business.
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