Auditing Self-employed Professionals to Enforce Accurate Tax Reporting and Taking Professional Advisors to Task for Tax Avoidance Schemes

Mr Yip Hon Weng asked the Prime Minister and Minister for Finance (a) how frequently IRAS conducts audits on self-employed professionals to enforce accurate tax reporting and curb tax avoidance; and (b) whether the Ministry will consider taking punitive action against professional advisors, such as lawyers and accountants, who actively advise clients to engage in tax avoidance schemes.

The Inland Revenue Authority of Singapore (IRAS) conducts audits on self-employed professionals every year, on a selective basis.

Where there is evidence that a professional advisor has promoted or facilitated tax avoidance arrangements, the Ministry of Finance and IRAS will refer the case to the appropriate regulatory or professional body for investigation and disciplinary action.