Engagement

Five questions to ask an IRAS Income Tax expert

With the Individual Income Tax Season 2024 in full swing, we ask Chin Sau Hing, a Deputy Director at IRAS’ Individual Income Tax Division, to share her experiences on how IRAS constantly tinkers at the taxpaying process to make it easy for taxpayers. Read more here. 

Singapore commits to implementing the Crypto Asset Reporting Framework

Singapore and 47 other jurisdictions will work towards automatic exchanges in crypto-asset reporting based on the internationally agreed Crypto-Asset Reporting Framework in 2027.

The framework provides for the automatic exchange of tax-relevant information on crypto assets, thus ensuring that recent gains in global tax transparency are not eroded. IRAS will work with the industry to provide guidance for CARF implementation in Singapore.

Read joint statement here.

New digital solution ideas, deepening partnerships at the 16^th Forum on Tax Administration Plenary 2023

Over 50 tax administrations around the world met at the OECD’s 16^th Forum on Tax Administration (FTA) Plenary which was held in Singapore for the first time from 11 Oct to 13 Oct 2023.

The 16^th Plenary meeting brought together both advanced and developing tax administrations. At the Plenary, the Heads and representatives of FTA members agreed to commit to:

• Collaborate on an ambitious set of projects to help realise the vision of Tax Administration 3.0, utilising new technology to increasingly build-in, drive down tax gaps and significantly reduce compliance burdens;
• Work together to ensure the effective implementation of Pillar Two, including how to deepen co-operation between tax administrations in the administration of the global minimum tax rules; and
• Enhance the effectiveness and reach of global capacity building efforts through closer partnership with other international and regional organisations.

Read the 2023 FTA Plenary’s Statement of Outcomes and learn about initiatives such as InvoiceNow which enhances the taxpaying process through digital solutions.

5 questions to ask an IRAS valuer

Did you know that many factors determine the annual value of a property?

IRAS assesses the annual value of properties for the purpose of property tax? Find out what are the considerations which Ho Ren Da, an IRAS Valuer, has when reviewing industrial buildings.

Three new software developers attain ASR+ Tier 3 status

Three new software developers – Metro Group Pte. Ltd., Automa8e Technologies Pte. Ltd., Yonyou (Singapore) Pte. Ltd. – have successfully reached Tier 3 status on the IRAS Accounting Software Register Plus (ASR+) listing.

5 questions to ask an IRAS investigator

New Year. Fresh start for taxpayer engagement.

Find out more about our taxpayer engagement approach.

Revenue House clinches Green Mark Platinum award

For our sustained push to go green, Revenue House has been re-certified and awarded the Green Mark Award (Platinum) – the highest tier award in the Green Mark certification scheme by the Building and Construction Authority. The award recognises our proactive efforts towards environmental sustainability, with effective energy and water efficiency practices.

Beyond this achievement, and as part of our commitment to the environment, IRAS employees and tenants at Revenue House are encouraged to adopt green practices in line with the GreenGov.SG initiative: www.greenplan.gov.sg/key-focus-areas/green-government/