SCTP: The Glare of Tax Audits & Investigations

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Recommended: Know what to do when you are in the spotlight and survive to tell the tale! 
12 January 2022, Wednesday

Closing date: 5 January 2022, Wednesday or when spaces are filled

11.00AM - 12.30PM

Tech check from 10.45am

Online Classroom

CPE Hours (Income Tax):

1.5 hour(s)

CPE Hours (GST):

0 hour(s)

Contact Nabila (+(65) 6360 5969), Rowan (+(65) 6360 5979) or
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Programme Synopsis

Coming under the spotlight of tax audits and investigations may no longer be a remote possibility. In FY 2019/2020, 9,843 tax audits and investigations were conducted and about $444 million in taxes and penalties were recovered.  Knowing what can be done and being better prepared can make being audited or investigated by the tax authority a much less distressful experience.  

Join Ms Tham Siok Peng, Consultant, and Mr Yang Shi Yong, Director, at Drew & Napier LLC in this upcoming complimentary Tax Excellence Decoded session to learn about the art and science of surviving a tax audit and investigation by the Inland Revenue Authority of Singapore (IRAS). 

Besides gaining an understanding of the tax authority’s powers and areas of focus in a tax audit or investigation, know what it takes when preparing for interviews and statement-takings, and much more. 

Programme Outline

  • Be familiar with the tax authority’s areas of focus in audits and investigations (including possible cases of Missing Trader Fraud)
  • Understand the science (and art) of managing a tax audit or investigation and ask the right questions 
  • Grasp the know-how on what to do if a tax offence is uncovered
  • Distinguish the penalties for different tax offences (including the recent new sentencing framework for tax evasion cases)

About the Facilitator(s)

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Ms Tham Siok Peng
Consultant, Tax & Private Client Services
Drew & Napier LLC

With more than two decades of experience in dealing with criminal matters, tax audits and tax investigations in both income tax and goods and services tax, Siok Peng is a specialist in assisting clients through the audit and investigation process. She offers expert advice and helps guide clients through the process, which can often be a time of great anxiety and stress. In addition, Siok Peng also provides representation on behalf of clients before the Courts should the tax matters escalate.

Prior to joining Drew & Napier in 2020, Siok Peng was a Senior Legal Specialist in the Law Division of the IRAS. With 25 years of experience in the tax authority, six of which as an Investigations Manager in the Investigations and Forensics Division, she is familiar with the workings of the tax authority with in-depth hands-on experience in handling tax investigations, having conducted preliminary investigations and provided guidelines on the evidence to gather during raids and investigations.

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Mr Yang Shi Yong
Director, Tax & Private Client Services
Drew & Napier LLC

Shi Yong advises on a wide spectrum of tax law including corporate and personal income tax, goods and services tax, property tax, stamp duties, and customs and excise duties, with specialisation in Singapore enterprise tax risk management, tax audit, and tax investigation matters.

He is regularly engaged on contentious and complex tax audit and investigation matters, and is deeply appreciated by his clients for his well-rounded knowledge of Singapore tax law and strong management skills. He successfully resolved a high number of these matters without prosecution.

Shi Yong’s other key strength lies in oil and gas matters. He regularly advises national oil and gas companies on downstream oil and gas matters, such as joint venture arrangements, supply and trading transactions, crude and product swap transactions, and strategic reserve procurement arrangements.

He has also advised on refinery infrastructure and assets, storage, various aspects of production sharing agreements and off-take and supply agreements, the corporate governance of oil and gas companies, and day-to-day commercial and operational matters.

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