When you don't file your tax returns or pay on time

The Inland Revenue Authority of Singapore has recovered around $1.7 billion in taxes over the past three years in enforcement action against non-compliant taxpayers.
The Inland Revenue Authority of Singapore has recovered around $1.7 billion in taxes over the past three years in enforcement action against non-compliant taxpayers.PHOTO: ST FILE

A look at Iras' recovery process and the penalties that tardy taxpayers may face

While most taxpayers - individuals and corporates - declare their taxes accurately by the due date and pay them on time, a small number of them do not comply.

Since taxes form a common pool of resources to help keep public services running, it is in everyone's interest that we pay our fair share. Not doing so leads to unfairness to the community at large.

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A version of this article appeared in the print edition of The Sunday Times on October 20, 2019, with the headline 'When you don't file your tax returns or pay on time'. Print Edition | Subscribe