IRAS claws back $3m in unpaid taxes, penalties from 49 funeral firms over last five years
The tax agency has clawed back more than $3 million in unpaid taxes and penalties from some 49 firms in Singapore's funeral industry. That's more than three in four firms that have been under investigation since 2019. The Inland Revenue Authority of Singapore said poor bookkeeping practices in the industry can lead to false declarations of income, or failing to register for Goods and Services Tax on time. IRAS is encouraging businesses in the sector to take up digital accounting software. Eugene Chow reports.
The tax agency has clawed back more than $3 million in unpaid taxes and penalties from some 49 firms in Singapore's funeral industry. That's more than three in four firms that have been under investigation since 2019. The Inland Revenue Authority of Singapore said poor bookkeeping practices in the industry can lead to false declarations of income, or failing to register for Goods and Services Tax on time. IRAS is encouraging businesses in the sector to take up digital accounting software. Eugene Chow reports.
Popular Shows
