Singapore Strengthens IRAS Powers to Combat Grant Fraud

The Inland Revenue Authority of Singapore (Amendment) Bill aims to enhance the authority's ability to disburse grants and tackle fraud, with new investigative and enforcement powers.

• The Inland Revenue Authority of Singapore (IRAS) will gain enhanced powers to disburse grants and combat fraud and abuse, as outlined in the newly proposed amendment bill.
• Second Minister for Finance Chee Hong Tat emphasized the necessity of the legislative changes to empower IRAS in supporting Singapore's enterprises effectively.
• The amendment bill introduces the ability for IRAS to audit, investigate, and take action against grant fraud, including making arrests and seizing documents.
• MP Sharael Taha highlighted the importance of recovering credit rebates and grants wrongly disbursed, especially in light of recent efforts to administer these schemes.
• MP Louis Ng sought clarification on the recovery of wrongly disbursed funds and the prosecution process, stressing the need for IRAS to be prepared for its expanded powers.

5 Articles

CNA CNA CNA CNA CNA