
Overview of Audits by IRAS
Audits involve reviewing the accuracy of the information in your business' GST return. The audits are conducted on a risk-based approach. Being selected for an audit does not necessarily mean that you have made a mistake.
Audits involve reviewing the accuracy of the information in your business' GST return. The audits are conducted on a risk-based approach. Being selected for an audit does not necessarily mean that you have made a mistake.
GST is a self-assessed tax. While most taxpayers are generally compliant, IRAS conducts regular audits to encourage voluntary compliance amongst taxpayers and ensure that every taxpayer pays his fair share of taxes. We identify key areas of compliance risks among taxpayers and adopt a risk-based approach to tailor specific compliance programmes for higher risk industries.
Audit findings on recent compliance programmes on large businesses and businesses’ display of GST-inclusive prices to the public are summarised here.