STOMP it anytime, anywhere.
Download the new STOMP app today.
29 August 2016
The couple behind the popular Kay Lee Roast Meat Joint, which created buzz when it was sold in 2014 for $4 million, have been jailed and fined for tax evasion.
The Inland Revenue Authority of Singapore (IRAS) said in a statement today (Aug 29) that Ha Wai Kay, 64, was convicted of evading taxes amounting to $54,917.15 for the Years of Assessment 2010 and 2011. His wife, Kong Kuee Chin, 69, was convicted of assisting Ha to evade taxes.
IRAS said that Kong had knowingly under-reported the total sales income for Kay Lee for the two years to their accountant. As a result, Ha was undercharged for income tax.
IRAS said that Ha was aware that his wife had provided false sales figures when he approved the errorneous accounts and his income tax returns before their submission.
The couple have been sentenced to four weeks' jail each. They have also been each fined $164,751.45, three times the tax evaded. The total fine is $329,502.90, IRAS said.
Kay Lee Roast Meat was sold to the Aztech Group in 2014, which has since opened more restaurants under the 42-year-old brand.