
Ministry of Finance
- Consultation Period:
- 03 Nov 2023 - 19 Nov 2023
- Status:
- Closed
Detailed Description
a) Include the function for IRAS to administer Scheduled public schemes for and on behalf of the Government or a statutory body.
As the Centre of Excellence for disbursing broad-based grants to enterprises, IRAS currently supports the administration of enterprise schemes such as the Progressive Wage Credit Scheme, Senior Employment Credit and CPF Transition Offset. During COVID-19, IRAS also supported the administration of the Jobs Support Scheme, Jobs Growth Incentive, Rental Cash Grant and the Rental Support Scheme. The IRAS Act will be amended to formally empower IRAS to perform the function of administering Scheduled public schemes on behalf of the Government or a statutory body.
b) Provide IRAS with information-gathering and enforcement powers for audit and investigation of offences relating to broad-based enterprise grants.
To enable IRAS to conduct an audit or investigation effectively, the IRAS Act will be amended to provide IRAS with the power to collect information from enterprises and individuals, and to investigate potential violations such as misrepresentation of information and fraud.
c) Introduce offences for misrepresentation of information.
IRAS will introduce offences and penalties for misrepresentation of information to deter fraud and abuse, and penalise errant entities or persons for fraud and abuse of enterprise grants.
d) Introduce other administrative amendments.
To enhance the efficacy of IRAS’ grants administration, IRAS will introduce administrative amendments to, inter alia, grant IRAS the power to compound offences under the IRAS Act.
a. Please identify yourself as well as the organisation you represent (if any) so that we may follow up with you to clarify your comments, if necessary.
b. Be clear and concise in your comments.
c. Focus your comments on how the legislative amendments can be better written to make them cleaner and to make compliance easier; or on how the changes can be improved, including the drafting.
d. Use the prescribed template provided to organise your feedback.
e. As far as possible, please explain your points with illustrations, examples, data or alternative formulations of the proposed amendments.