A published-policy sample
This image-only page is an example of a published tax governance policy. Its substantive content spans legal compliance, relationships with tax authorities, and governance of tax risk. It provides commitments and assigned responsibilities, not a certification that a company already operates effective controls. No publication date or numerical escalation threshold appears in the sample.
Compliance and commercial substance
The sample commits to complying with relevant tax laws and regulations and avoiding aggressive tax planning. It describes genuine commercial and economic activity as the driver of the business. A useful published policy should reflect the organisation’s actual conduct rather than reproduce those commitments without supporting practice.
Relationship with IRAS
The policy describes an open, cooperative relationship with IRAS, regular reviews and self-assessment of filing positions, and accurate, timely disclosure. For material transactions or tax-law interpretation, it provides for seeking clarification or rulings where appropriate. It does not say that every transaction requires an advance ruling.
Board and CFO responsibilities
Tax-risk governance has a formal structure with clearly defined roles. The Board is kept informed of the company’s overall tax governance strategy. Supported by the tax function, the CFO oversees tax affairs, including timely, accurate and reliable returns and payment of all taxes due. Keeping the Board informed and operational oversight by the CFO are distinct responsibilities.
Controls, competence and escalation
The company maintains risk-management and internal-control systems to identify, assess and manage tax risks and support accurate reporting. Its internal tax team is competent in compliance and engages external advisers when necessary on complex matters. Significant tax issues exceeding the organisation’s reporting threshold are escalated to the Board. The sample leaves that threshold unspecified; an adopting organisation must define it rather than invent a number and attribute it to IRAS.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗