IRAS participates in 53rd SGATAR Annual Meeting in Seoul

The 53rd SGATAR Annual Meeting held in Seoul in MONTH, 2024 brought together over 180 delegates, including tax commissioners and business representatives from 18 Asia-Pacific jurisdictions.

The conference focused on AI-driven digital transformation in tax administration, as well as strategies for improving tax information sharing, tax collection, and tackling tax evasion.

The IRAS delegation at SGATAR outlined the transfer pricing approach for financial transactions, aligned with OECD guidelines and addressing compliance challenges. We detailed strategies to enhance CRS quality through collaboration with Financial Institutions, improved data collection, and matching techniques. We also shared how we are leveraging AI to combat tax evasion and tax crimes. This includes using AI for detection, intelligence and targeting, and investigative efficiency.

IRAS recognises the importance of strengthening international cooperation, particularly in areas such as exchange of information. We remain committed to collaborating with our counterparts, sharing best practices, and fostering stronger cooperation among tax authorities to create a conducive tax environment that benefits both taxpayers and businesses.