Overview

• 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.