Singapore Criminalisation of Tax Evasion

With effect from the 1st of July 2013, Singapore has made tax evasions, which occurs anywhere in the world, a criminal offence in Singapore if perpetrated from Singapore or if assisted by any person or entity resident in Singapore. The IRAS are now empowered to raid premises, seize documents and computers, if they have reasonable suspicion that tax evasion has taken place or that it is being facilitated.

The further effect of this is that every agreement signed by the Singapore Government for the avoidance of double taxation now has within it, and enforced a paragraph under which Singapore agrees to cooperate with any other Government on enquiries relating to possible or actual tax evasion.

These changes bring Singapore into line with the majority of other countries in the developed world. At Tax Associates International, we have a well-developed history of helping those who may inadvertently be in tax evasion back into full compliance in the countries within which they have tax exposure. If any of our readers believe that they are in tax evasion in present and wish to be helped back into compliance, we would be pleased to meet with them. In every western country, those that correct their affairs at their own violation fare better than those who are caught by the relevant revenue services.

We strongly recommend an early meeting to resolve any problems.