Some of the offenses often committed by Singapore company owners include those of tax evasion, export control violations, and health and safety violations.

ACRA Offenses Committed by Directors

It is important that anyone who owns a company does so in a moral and ethical manner. Failure to do so will ruin the company’s reputation as well as cause legal action to be taken and punishments imposed against the company. Such is also the case in Singapore, where such matters are especially pertinent. This  is  the  case because Singapore  is  known  as  a  regional  and  global  business  hub  which  also  contains  one  of  the  world’s  most  robust  economies  and  vibrant  corporate  environments. Thus, offenses committed by company owners in Singapore often have a much more significant impact than do offenses committed by company owners elsewhere.

Tax Evasion

One of the more common offenses committed by those who own a company in Singapore is that of tax evasion. This offense is committed by company owner who illegally attempt to increase their own and their company’s revenue by refusing to pay the taxes required of them. Therefore, the Inland Revenue Authority of Singapore (IRAS), the country’s primary tax authority, does not take tax evasion lightly. The Singaporean government also imposes severe punishments upon those who have committed tax evasion. The punishment for tax evasion is a fine of 300% of the amount of tax which has been undercharged, a fine of S$10,000, a jail term of three years, or any combination or all of the preceding depending on the severity of the offense committed.

One way in which a company owner might avoid committing acts of tax evasion is by ensuring that the company is completely tax-compliant. We at Paul Hype Page & Co can be of service in this matter. We will work with you so that you will gain greater understanding of all of your tax obligations as a company owner in Singapore. We will also help you make all the necessary tax filings if you require such.

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Breaches of Export Controls

Company owners in Singapore may sometimes need to obtain items from abroad in order to properly carry out the business activities of the company. Some company owners in Singapore have also committed offenses which have been classified as breaches of export controls. These owners commit these offenses to illegally obtain products which they would not have otherwise been able to acquire by legal means at a particular time. Export controls in Singapore are enforced by Singapore Customs. Depending on the details of the breach of export controls, punishments may include fines of up to S$200,000 or four times the value of the products which have been illegally procured (whichever is of higher value) as well as a jail term which may last for up to three years.

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Health and Safety Offenses

The primary health and safety law which pertains to businesses based in Singapore is the Workplace Safety and Health Act. This Act is enforced by the Ministry of Manpower. It specifies standards of health and safety to be fulfilled by companies in Singapore; failure to adhere to these standards constitutes a criminal offense. Among the most significant health and safety offenses which may be committed by Singapore company owners is that of failure to comply with a Stop Work Order or a Remedial Order. The punishment for the failure to comply with a Stop Work Order is a fine of S$500,000 as well as an additional S$20,000 fine for each day on which the offense continues to be committed, a jail term of up to one year, or both. The punishment for the failure to comply with a Remedial Order is a fine of S$50,000 as well as an additional S$5,000 fine for each day on which the offense continues to be committed, a jail term of up to one year, or both. Other violations of the Workplace Safety and Health Act will bring about a fine of S$200,000 (or S$400,000 for repeat offenses) upon individuals or one of S$500,000 (or S$1 million for repeat offenses) upon corporate bodies. Individuals who commit such violations also risk imprisonment for up to two years.