Inland Revenue Authority of Singapore (IRAS)’s Post

To aid various valuation reviews, IRAS is leveraging the use of geospatial tools. On 22 July, IRAS’ Property Tax Division met the Hong Kong Commissioner of Rating and Valuation (HK-RVD) to learn more about their geospatial modelling and analytics capabilities, as well as quality assurance of assessment, given similarities in our high-rise residential, and commercial property segments. Given HK-RVD’s plans for its rating regime for domestic tenements, IRAS also shared our experiences in operating a property tax system with rates applied on a progressive scale. We look forward to further discussions with HK-RVD given the many areas of mutual interest!

Don’t be trashy 🚯 We spent a fruitful Sunday with our families making our parks cleaner. Let’s do our part to keep Singapore clean. Follow us on TikTok: https://lnkd.in/gXwxPUzA

We're #hiring a new Intern - Law Division in Singapore. Apply today or share this post with your network.

Thank you to everyone who joined us for an engaging workshop on the Common Reporting Standard for Automatic Exchange of Financial Account Information in Tax Matters, jointly organised by IRAS and the Global Forum Secretariat. A big shoutout to the speakers and participants across 16 jurisdictions for sharing your views and insights which have enhanced the learning outcomes for everyone. We are grateful for the opportunity to host our colleagues and friends. Here’s to more peer learning, collaboration and growth. OECD Tax

#TaxCrimes Tan Lay Hai and Foo Kia Meng, directors of Jian Man Construction Pte Ltd (“Jian Man”), have been each convicted of 23 counts of offences for being directors of Jian Man, when Jian Man made incorrect GST returns without reasonable excuse for 23 quarters from the period ending 30 June 2012 to the period ending 31 Dec 2017 - by excluding the sales of the scrap metal and understating its output tax on such sales. For more IRAS news, head to https://lnkd.in/gTTmJDfd.

The Enterprise Innovation Scheme (EIS) was introduced in Budget 2023 to encourage businesses to engage in Research & Development, innovation and capability development activities for YA 2024 to YA 2028 💡 Here’s a quick guide on how eligible businesses can opt to convert up to $100,000 of the total qualifying expenditure that qualifies for enhanced deduction allowance, incurred across five qualifying activities for each YA, into cash at a conversion rate of 20% under this scheme. For more information, visit https://lnkd.in/ee6qntHs)

We're #hiring a new Temporary Officer in Singapore. Apply today or share this post with your network.

Look forward to a smoother, easier experience in managing your personal tax matters.   The enhanced myTax Portal is set to launch on 12 Aug, at 8:00am to serve you better. From 4 to 11 Aug, certain digital services will be temporarily unavailable. Complete your digital service transactions by 3 Aug. More details on #myTaxEnhanced at go.gov.sg/enhancedmtp2024.

We're #hiring a new Manager / Senior Manager (Product Manager - Digital Strategy & Solutions) in Singapore. Apply today or share this post with your network.