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Singapore Notes Taxes and Penalties Recovered from Audits on Companies and Common Filing Mistakes to Avoid

25 October 2023

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Approved Changes

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Singapore

The Inland Revenue Authority of Singapore issued a release noting the taxes and penalties recovered from audits on companies, as well as common tax filing mistakes to avoid. The release also reminds companies, including those with no business activities or those in a loss position, to file their Year of Assessment 2023 CIT Returns by 30 Nov 2023, unless they have received a waiver to file --- $79 Million in Taxes and Penalties Recovered from IRAS' Audits on Companies 20 Oct 2023 Advanced data analytic tools achieved higher average recovery from erroneous returns for YA 2019 – YA 2021 Reduce...