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November 8, 2022
Singapore forges ahead on good governance in tax
In this article we discuss two new tax governance-focused programs deployed by the Inland Revenue Authority of Singapore (IRAS). Part of a series of new evolving compliance assurance programs being deployed by revenue authorities around the world, the Tax Governance Framework (TGF) and the Tax Risk Management and Control Framework for Corporate Income Tax (CTRM) programs offer benefits to participating companies, but will also require advance preparation by businesses wishing to participate.
Earlier articles describing the tax governance requirements/programs in Australia, Germany and the Netherlands are also available.
See also our recent country paper: Tax assurance in the UK: How the Business Risk Review+ program is a foundation stone for HMRC