With tax enforcement powers growing globally to combat increasing tax fraud, the Inland Revenue Authority of Singapore (IRAS) has been entrusted with more powers to investigate tax crimes for income tax and for GST. The recent months of October and November 2019 saw IRAS tax investigators handcuffing suspected key members of a criminal syndicate on suspicion of GST fraud. On 13 November 2019, IRAS issued a media release
containing a statement by Assistant Commissioner of IRAS’ Investigation and Forensic Division, which stated, among other things, that the profile of tax evaders is changing, and that today we deal with more syndicated groups whose members may have been involved in past criminal activities. He concluded that “with our new powers of arrest, our investigators can be more effective in bringing the perpetrators to justice.”
Jump in, engage in this hot topic, and contribute your perspectives at this upcoming Tax Excellence Decoded session facilitated by Accredited Tax Advisor (Income Tax and GST) Mr S Sharma, Partner at Malkin & Maxwell LLP. Get the latest on what these changes are and what they mean for your tax practice and your clients.
• Understand the nature and extent of these new powers for income tax
• Know how these powers apply for GST cases
• Appreciate international exchange of tax information in relation to such investigations
• Be cognisant of how investigative powers can be checked against possible abuse
Mr S SharmaPartner
Malkin & Maxwell LLP
Accredited Tax Advisor (Income Tax and GST)
Sharma has over 30 years of legal and tax expertise and is qualified in law and business management at post-graduate level, besides qualifications in accounting and finance. Sharma has conducted cases as lead counsel for taxpayers in significant tax disputes with the IRAS, at tax tribunals and Courts, including the Court of Appeal. Having started his career as legal adviser to the IRAS, Sharma has also been District Judge deciding civil disputes, Legislative Draftsman in various legislation at the Attorney-General’s Chambers, Arbitrator at Singapore International Arbitration Centre and Mediator, Coach and Assessor at the Singapore Mediation Centre. His private sector experience spans domestic and international taxation, corporate tax, withholding tax, goods & services tax, property tax, stamp duties and personal income tax. He has also represented clients in exchange of information cases with IRAS. He has achieved successful settlements for clients in investigation and audit cases, following private negotiations with IRAS for taxpayers in difficulties. Sharma is also Adjunct Senior Lecturer at NUS Business School. He is also Tax Expert for Singapore in the online Lexis Practical Guidance with LexisNexis, and contributory author in leading published works on taxation for income tax and GST.