Voluntary Disclosure Program (VDP): Minimizing Penalties with Proactive Compliance

Voluntary Disclosure Program (VDP): Minimizing Penalties with Proactive Compliance Maintaining robust tax compliance is a key priority for businesses in Singapore. Even with the best intentions, tax errors can occur. The Voluntary Disclosure Program (VDP) introduced by the Inland Revenue Authority of Singapore (“IRAS”) offers businesses an opportunity to correct these errors and reduce penalties. […]