Owner Of Michelin Bib Gourmand Eatery Eminent Frog Porridge Charged With $3.8M Tax Evasion & Money Laundering
The restaurant owner behind popular Eminent Frog Porridge & Seafood in Geylang was charged with evading income tax and Goods and Services Tax (GST), and money laundering offences on Friday (Jul 3).
Buntono, who goes by one name, is accused of evading about $3.8 million in taxes - close to $2 million in income tax and almost $1.8 million in GST.
His supper hotspot won a Michelin Bib Gourmand nod in 2025.
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Avoided registering company for GST
He is also accused of possessing benefits from his alleged tax evasion in the form of cash worth over $2.4 million, a Lamborghini Aventador and a landed property.
The 49-year-old Singaporean was slapped with 30 charges of tax evasion and money laundering offences in court on Friday.
According to its Facebook page, the restaurant was founded in 2004.
Court documents allege that Buntono underdeclared his income tax from 2016 to 2024. He is also accused of underdeclaring his business income to deliberately hide his obligation to register his company for GST in the same time period, and failing to keep sufficient business records.
His alleged offences came to light after a joint investigation by the Inland Revenue Authority of Singapore (IRAS) and the Singapore Police Force’s (SPF) Commercial Affairs Department.
Companies in Singapore must register for GST if their taxable turnover exceeds $1 million in a calendar year or is expected to exceed $1 million in the next 12 months, said the authorities in a separate press release on Friday.
Sole proprietors must register for GST once the combined turnover from all their businesses and income from any trade, profession or vocation exceeds or is expected to exceed $1 million in the next 12 months, they noted.
Any business that fails to register for GST will still need to pay the tax on all their past transactions from the date the business became liable for GST registration, and it is payable even if the amount was not collected from customers, the authorities said.
Failing to register for GST is an offence, and businesses can face penalties of 10 per cent of their payable GST and fines of up to $10,000, they added.
For making false statements or entries willfully with the intention to evade tax, an individual may need to pay triple the amount of taxes owed and be punished with a fine of up to $10,000, up to three years’ jail, or both.
Offenders who are convicted of possessing benefits derived from criminal conduct can be punished with a fine of up to $500,000, a jail term of up to 10 years, or both.
Source: CNA/hw(sn)
The original version of this story first appeared in CNA.
For more CNA stories, visit https://www.channelnewsasia.com.
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