False PIC Claims
IRAS takes a serious view of taxpayers who defraud the government. Offenders convicted of PIC fraud will have to pay a penalty of up to four times the amount of cash payout fraudulently obtained, and a fine of up to $50,000
and/or imprisonment of up to five years.....
Engaging Consultants to File PIC Claims
Businesses that wish to engage PIC Consultants are advised to engage those who are competent and able to provide....
Abuse of Tax Exemption Scheme intended for New Companies
IRAS has observed a number of cases where shell companies have been used to take advantage of the tax exemption scheme for new start-ups and not for....
IRAS Audit On Family-Owned Companies
Family-owned/managed companies are companies owned and/or managed by individuals related as a family, for example, spouse, parents, children and siblings....