The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide, IRAS' Voluntary Disclosure Programme (Eleventh Edition). The guide provides guidance on the conditions for a voluntary disclosure to qualify under the IRAS' Voluntary Disclosure Programme (VDP). The VDP is applicable to Income Tax, Goods and Services Tax (GST), Withholding Tax, and Stamp Duty (SD).
Since 1 Jan 2013, the reduced penalties for voluntary disclosures that meet the qualifying conditions are a…