(Yes/No answer is requested. If yes, state the amount under reported and reason for under declaration)
1. Did you omit to report any revenue earned from services rendered or goods sold for the year?
2. Did you report only the net income received as Revenue (i.e. gross receipts received less sub-contractor’s fees or other expenses)?
3. Did you report only business receipts deposited into business bank accounts and omitted to report those which were deposited into your personal bank accounts?
4. Did you over claim the amount for purchases of goods, cost of goods sold and other expenses? Specify the type of expenses.
5. Did you report your business revenue and claim expenses based on estimation? Specify the type of income and expense that were estimated with basis of estimation.
6. Did you keep proper and complete records of all your business transactions to readily ascertain the revenue you had reported and expenses claimed? (e.g. sales and purchases invoices, receipts for payments, payroll records, payment vouchers etc.) If you did not, specify the type of income or expenses where records were incomplete?
More information on the following:
– IRAS Queries on Specific Expenses;
– IRAS Queries on Expenses Claimed by Businesses; and
– IRAS Queries on Productivity and Innovation Credit.