Liang Eng Hwa on Income Tax (Amendment) Bill
A Bill put up for debate in Parliament on Monday (Oct 3) proposes to let the Inland Revenue Authority of Singapore disclose information to other Government agencies for official purposes. The intent is to improve the effectiveness of Government operations and public services, as well as facilitate data-driven policy setting, which was supported by MP Liang Eng Hwa. However, noting that in the case of company-related information, disclosure can be made without taxpayers’ consent, he raised a few concerns. Mr Liang asked how taxpayers’ confidentiality will be protected, especially where sensitive commercial information might be involved; whether agencies will have to explain why they need the information and if there will be an evaluation and approval process; and whether the changes will have any impact on Singapore’s competitiveness in attracting international investments.
A Bill put up for debate in Parliament on Monday (Oct 3) proposes to let the Inland Revenue Authority of Singapore disclose information to other Government agencies for official purposes. The intent is to improve the effectiveness of Government operations and public services, as well as facilitate data-driven policy setting, which was supported by MP Liang Eng Hwa. However, noting that in the case of company-related information, disclosure can be made without taxpayers’ consent, he raised a few concerns. Mr Liang asked how taxpayers’ confidentiality will be protected, especially where sensitive commercial information might be involved; whether agencies will have to explain why they need the information and if there will be an evaluation and approval process; and whether the changes will have any impact on Singapore’s competitiveness in attracting international investments.
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