Singapore introduces 2 new tax frameworks for companies to strengthen tax compliance

Singapore

SINGAPORE has rolled out 2 new tax frameworks to help companies strengthen their tax compliance, said the Inland Revenue Authority of Singapore (Iras) on Friday (Mar 18).

The new frameworks complement the existing Goods and Services Tax Assisted Compliance Assurance Programme (GST ACAP), Iras said, and companies that adopt them enjoy benefits including longer grace periods and waivers when they voluntarily disclose tax errors.