Incorporation of IRAS
On 1 September 1992, the Inland Revenue Authority of Singapore (IRAS) was established by legislation as a statutory board under the Ministry of Finance. With this conversion, IRAS was incorporated by the Inland Revenue Authority of Singapore Act to take over the functions previously performed by the Inland Revenue Department.
The conversion was to give IRAS the autonomy and flexibility to manage its personnel and financial resources. In other words, the conversion marked more than a change in name or a change in organisation. It was a change towards achieving excellence in service to the nation and its people in the area of tax administration.
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