Press Releases

The Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS) are proposing to amend the Inland Revenue Authority of Singapore Act 1992 (“IRAS Act”), to formally empower IRAS to administer broad-based grants to businesses. 

2. The draft IRAS (Amendment) Bill proposes amendments to the IRAS Act to, inter alia, assign IRAS with the function to administer broad-based grants to businesses, provide IRAS with powers to carry out its grant processing activities, and empower IRAS to perform investigative and enforcement activities in the event of fraud or abuse. Interested parties are invited to provide feedback on these amendments by 19 November 2023.

Submission of feedback via FormSG by 19 November 2023

3. The public can access the public consultation documents, including the draft IRAS (Amendment) Bill, on the Ministry of Finance’s website (www.reach.gov.sg) and the REACH consultation portal (www.reach.gov.sg).

4. Interested parties can submit their feedback on the draft IRAS (Amendment) Bill by 19 November 2023 using the FormSG link in the REACH portal go.gov.sg/iras-bill. 


Issued by:
Ministry of Finance
Inland Revenue Authority of Singapore 
Singapore
3 November 2023