ASIAN REGULATORY ROUNDUP – SINGAPORE TAX COLLECTORS USE POWERS OF ARREST FOR FIRST TIME
November 1st, 2019
THE INLAND Revenue Authority of Singapore (IRAS) has for the first time used powers of arrest, in October and November raids, holding 10 suspected members of a crime syndicate, suspected of operating a GST carousel fraud. Chains of sales and purchases have ended in goods disappearing or being exported, with dishonest participants claiming input tax for GST, which is ultimately never paid to the government. IRAS inspectors can now arrest suspects, preventing them destroying evidence by seizing them quickly, rather than waiting for action by police ...
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