Inland Revenue Authority of Singapore
Inland Revenue Authority of Singapore (IRAS) is the Government agency responsible for the administration of taxes and enterprise disbursement schemes.
Tax revenue rises 9.4% to $97.3b on stronger economic activity
Tax revenue rises 9.4% to $97.3b on stronger economic activity
Collections accounted for 74.8% of the government’s operating revenue.
All GST-registered firms face mandatory InvoiceNow shift by 2031
Funding of up to $5,000 will be provided to support the transition.
IRAS tax revenue rises 10.7% to $88.9b in FY2024/25
Corporate Income Tax rose by 6.7% to $30.9b.
DBS partners with IRAS to provide individual and corporate taxpayers with eGIRO
The eGIRO service aims to benefit two million GIRO users in Singapore.
IRAS penalizes over 4,700 companies for late or missed tax filings in 2023
The total penalties incurred from failure to file tax filings reached over $4.9m.
Over $2.28b in gov't aid disbursed to SG businesses in 2023
IRAS also gave out $2.28b in government schemes to over 131,000 businesses.
Tax revenue rises 17% to $80.3b in FY23/24
Corporate income tax led the collection with a 36.1% share.
IRAS to reclaim $60m from '99-to-1' ABSD loophole exploiters
As of April, IRAS has audited 187 cases related to the scheme, uncovering 166 engaged in tax avoidance practices.
MOF seeks public feedback on the proposed IRAS amendment bill
The bill will allow IRAS to administer broad-based grants to businesses.
IRAS recovers $79m in taxes and penalties
The audits revealed 4 common tax filing mistakes amongst companies.
Over $4b in grants distributed to businesses, workers: IRAS
More than 120,000 enterprises received grants from the agency.
IRAS extends simplified tax filing to over 2 million taxpayers
More than 100,000 employers are expected to participate in the scheme.
What Singapore can do to enhance carbon trading hub status
KPMG advises determining length prices for carbon credits.
Longer grace periods for companies under new tax frameworks: IRAS
The frameworks were co-developed with the Big 4 accounting firms.
Over 40,000 businesses benefit from $132m recovery grant
The grant stemmed from the budget 2022 and part of $500m jobs support aid.
IRAS disburses $28.2b grants to support businesses, jobs in pandemic
The value was published in a release by IRAS.
Tax collection declines 7.3% to S$49.6b in FY2020/21
This is due to reduced business activities due to COVID-19.
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