Tax query or IRAS query is one form of desk audit where Inland Revenue Authority of Singapore (IRAS) carries out frequently to check the tax affair of businesses and individuals. IRAS query can be general questions targeting at all businesses or specific questions targeting at particular industry or your business. Sometimes, businesses and individuals take such query lightly and do not reply to IRAS appropriately. As a result, the responses are inconsistent with their tax declaration and it triggers further audit or full scale investigation by IRAS. As such, it is important that you reply to IRAS query promptly and seriously.
Family-owned businesses usually do their tax return and computation in-house without the necessary expertise to submit an accurate tax return. They are also the prime target of the Authority to educate them. However, those choose to ignore the education and refuse to reply to the IRAS query promptly or accurately is likely to face the possibility of more serious audit or investigation.
A Tax Advisor Pte Ltd specializes in tax audit & investigation, including tax query by IRAS, and thus will be able to effectively assist you in responding to IRAS tax query. We have come across many cases where the IRAS queries are not being handle properly at the first instance and this led to serious IRAS investigation subsequently. Contact us now to avoid triggering a tax audit from inappropriate responses.