About Tax Governance & Tax Risk Management

Key requirements

Tax governance concerns an approved and communicated corporate tax policy; risk management puts controls in place to identify, mitigate and monitor tax risks. The page introduces the Tax Governance Framework, the corporate income tax CTRM framework and GST ACAP. They are independent voluntary initiatives, so a company may adopt one or more according to readiness and business needs. IRAS encourages all three as complementary measures, especially for large companies, while other companies may participate when prepared. Adoption requires the detailed conditions and review process of each initiative; having a written policy alone is not the same as satisfying every framework.