IRAS nabs 279 high-income earners over sham arrangements to pay less tax
The Inland Revenue Authority of Singapore (IRAS) has identified 279 high-income earners who used sham corporate structures to avoid paying personal income taxes. The tax authority has successfully clawed back $49 million by targeting these contrived arrangements.
Why it matters
This highlights the government's crackdown on tax avoidance schemes used by wealthy individuals to exploit corporate tax rate differentials.
The taxman said 279 high-income earners were caught for sham arrangements to avoid paying more tax.
The report focuses on official government enforcement actions and tax policy compliance.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in