Auditing Self-employed Professionals

Parliamentary Question by Mr Yip Hon Weng:

To ask the Prime Minister and Minister for Finance (a) how frequently IRAS conducts audits on self-employed professionals to enforce accurate tax reporting and curb tax avoidance; and (b) whether the Ministry will consider taking punitive action against professional advisors, such as lawyers and accountants, who actively advise clients to engage in tax avoidance schemes.

Parliamentary Reply by Senior Minister of State for Finance, Mr Jeffrey Siow:

IRAS conducts audits on self-employed professionals every year.

Where there is evidence that a professional advisor has promoted or facilitated tax avoidance arrangements, MOF and IRAS will refer the case to the appropriate regulatory or professional body for investigation and disciplinary action.