- On 17 March 2026, IRAS conducted raids at over 20 locations in Singapore as part of investigations into suspected GST refund fraud.
- One 56-year-old female suspect was arrested, and evidence including 179 luxury watches worth over $1 million was seized.
- Seven other individuals are assisting with investigations; some cases involve shell companies and fictitious transactions.
- In 2025, audits of over 1,300 businesses led to the recovery of more than $100 million in taxes and penalties due to non-compliance and fraud.
- IRAS urges businesses and individuals to report suspected tax fraud or voluntarily disclose past tax mistakes.
Source: go.gov.sg
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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