Singapore: Inland Revenue Authority of Singapore (IRAS) Assurance Program on Auto-Inclusion Scheme for Employment IncomeOctober 7, 2010
The IRAS has recently undertaken a new initiative, referred to as the ”Assurance Program on Auto-Inclusion Scheme for Employment Income”. The objective of this assurance program is to ensure correct employee remuneration reporting.
If the IRAS has reason to believe that there has been a potential under-reporting of income, then a field audit may be conducted on the company´s premises in respect of the company´s remuneration reporting and/or payroll processes.
Further details are available from the Ernst & Young HR and tax alert which can be accessed using the link below: