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SINGAPORE – The taxman has caught 279 high-income earners to date for using sham arrangements such as setting up private companies to receive their income to avoid paying more tax.Out of this group, the Inland Revenue Authority of Singapore (IRAS) probed 12IRAS nabs 279 high-income earners over sham arrangements to pay less tax
SINGAPORE – The taxman has caught 279 high-income earners to date for using sham arrangements such as setting up private companies to receive their income to avoid paying more tax.Out of this group, the Inland Revenue Authority of Singapore (IRAS) probed 124 cases from 2021 to 2025 and clawed back $49 million in additional tax.All but one of these cases involved taxpayers extracting profits as tax-exempt dividends or interest-free shareholder loans.Unlike tax evasion, which is a crime involving hiding and falsifying income, tax avoidance by channelling funds through various arrangements is not an offence, but these moves can result in additional taxes and surcharges being levied if there is no real purpose for these transactions other than paying less tax.Cases involving such taxpayers were highlighted recently when the High Court dismissed the bid of three doctors to challenge the decision of IRAS to levy more taxes on their total incomes. Read more











