MOF mulls greater powers for property tax investigation
Proposed amendment would give IRAS full access to properties, documents, computers and software
Singapore
AMONG the three amendments the Ministry of Finance (MOF) is looking to make to the Property Tax Act is one that will give the Inland Revenue Authority of Singapore (IRAS) more enforcement and investigative powers.
On Thursday, MOF issued a statement saying that it is conducting a public consultation on the draft Property Tax (Amendment) Bill 2017, and is seeking feedback from stakeholders.
One of its proposed amendments seeks to "provide clarity and to enhance the information gathering powers of the Comptroller of Property Tax, the Chief Assessor and the officers authorised by either of them".
The change will allow these tax authorities to require people to attend personally before them to provide information, and to be examined orally for investigation if they appear to be acquainted w…
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction
US Judge approves US$418 million settlement that will change real estate commissions
In San Francisco, a home renovation can become a battle royale