AsiaOne·3 min read·hard
IRAS nabs 279 high-income earners over sham arrangements to pay less tax
✦AI Summary
Singapore's tax authority, IRAS, has recovered $49 million from 279 high-income earners who used sham corporate structures to avoid personal income taxes. The authority is cracking down on arrangements that lack genuine business purpose beyond tax avoidance.
SINGAPORE – The taxman has caught 279 high-income earners to date for using sham arrangements such as setting up private companies to receive their income to avoid paying more tax.
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