Official Notices
11 notices published
Owner of Eminent Frog Porridge Restaurant Charged with $3.8 Million Tax Evasion, Money Laundering
03 Jul 2026 Buntono, 49, who runs Eminent Frog Porridge (Ming Hui Food Porridge) (“Eminent Frog Porridge”) and Eminentseafood, was charged in Court today with Income Tax and Goods and Services Tax...
Key Member Behind Goods and Services Tax Missing Trader Fraud Syndicate Sentenced to Six Years' Imprisonment
29 Jun 2026 On 29 June 2026, Giam Zi Hin, Luke (“Giam”) was sentenced to six years' imprisonment for fraudulent trading under Section 340(5) of the Companies Act. Giam was a key member of a criminal...
Accountant Sentenced to 30 Weeks’ Imprisonment for Submitting Fictitious Documents to IRAS
21 May 2026 Daniel Chun Ling Ping (“Chun”), a 50-year-old accountant, was convicted after trial for furnishing fictitious invoices and transaction listings during a Goods and Services Tax (“GST”)...
Singapore Signs GloBE MCAA: Easing Pillar Two Filing for MNEs
Singapore's signing of the MCAA on GloBE Information Exchange enables central filing of GloBE Information Returns, slashing compliance burdens for Singapore-headquartered MNEs under OECD Pillar Two rules. This move positions Singapore as an efficient tax hub while upholding data safeguards. Businesses should assess their in-scope status to leverage reduced filing obligations.
IRAS GST Refund Fraud Crackdown: Raids, Arrests & $1M Seizures Alert Businesses
IRAS conducted island-wide raids on over 20 locations, arresting one suspect and seizing luxury watches worth over $1 million in a major GST refund fraud operation. Businesses face heightened audits recovering $100M+ in 2025, with severe penalties for fraud including triple tax penalties and up to 7 years jail. Companies should prioritize GST compliance reviews and voluntary disclosures to mitigate risks.
IRAS YA2026: 1M Taxpayers Get Direct Tax Bills from Mid-March
IRAS expands Direct Notice of Assessment (D-NOA) for YA2026, delivering pre-computed tax bills to 1 million taxpayers from mid-March, reducing filing needs for most. Businesses must ensure accurate AIS submissions to support this while prioritizing verification and timely payments to avoid $5M+ penalties seen in YA2025. Strategic GIRO setup offers cash flow relief via interest-free instalments.
Singapore-Cambodia DTA Second Protocol Enters Force: BEPS Anti-Abuse Rules
The Second Protocol to the Singapore-Cambodia Double Taxation Agreement (DTA) entered into force on 6 March 2026, introducing BEPS-compliant measures to prevent treaty abuse via a new Article 28. Businesses engaging in cross-border activities between the two nations must review eligibility for treaty benefits to avoid unexpected tax exposures. This update strengthens fiscal integrity while preserving legitimate tax relief for compliant operations.
IRAS Mandates GST InvoiceNow for All Businesses by April 2031
IRAS will require all GST-registered businesses to adopt InvoiceNow and submit invoice data directly from April 2028 to 2031, phased by annual supplies value. Transitional funding up to $5,000 and free solutions for SMEs ease onboarding. This boosts productivity, compliance, and cash flow but demands system upgrades.
IRAS AIS: 123K Employers Must Submit Employee Income by 1 Mar 2026
IRAS requires 123,000 AIS employers, including over 11,000 new ones, to submit 2025 employee income data by 1 March 2026 to enable pre-filled tax returns for 2 million workers. Enhanced digital tools simplify compliance, but non-filers face fines up to $5,000 and directors up to $10,000 or jail. Businesses must act now to avoid penalties and errors like omitting benefits-in-kind.
IRAS Charges MLM Agent for $323K Tax Evasion: Compliance Alert for Sales Distributors
IRAS has prosecuted a sales distributor for falsifying tax returns, evading $323,631 in income tax for YA 2016-2019. This stems from intensified audits on MLM and commission agents, recovering $1.66M in taxes. Businesses must prioritize accurate commission reporting and verifiable expenses to mitigate prosecution risks.