IRAS NABS 279 HIGH-INCOME EARNERS OVER SHAM ARRANGEMENTS TO PAY LESS TAX

16/07/2026

IRAS has identified 279 high-income earners who used sham arrangements to reduce their tax liabilities. Some individuals channelled their professional income through private companies and extracted profits as tax-exempt dividends or interest-free shareholder loans, instead of reporting them as taxable personal income.

Source: https://www.straitstimes.com/business/invest/iras-nabs-279-high-income-earners-over-sham-arrangements-to-pay-less-tax?utm_source=emarsys&utm_medium=email&utm_campaign=ST_Newsletter_AM&utm_term=IRAS+nabs+279+high-income+earners+over+sham+arrangements+to+pay+less+tax&utm_content=12%2F07%2F2026

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