Majorities of the self-employed and corporate owners are eyeing on the corporate tax filing season to file their taxes. During this time, a significant number of companies responsible for offering accounting services Singapore claims to file taxes for their clients—along with taking care of their taxes-related concerns. Nonetheless, the circulation of a scam email has taken everyone by a surprise, and they are counting on the Inland Revenue Authority of Singapore “IRAS” authorities to mitigate the situation.
Most business owners have reported the scam email to the authorities; however, most naïve businesses have fallen for the trap, and they are seeking a resolution from IRAS. If you are hiring corporate tax services and payroll services from the best accounting firm Singapore; you should trust the credentials and reputation of the accounting firm. Make sure that you are informed on the firm, and that you have worked with them before. The subject in the fraudulent email assures the recipient with a promise to file their corporate taxes; however, business owners are strictly advised to steer clear from such scams.
Furthermore, they should report a suspicious email or text to the IRAS, and they should inform their network, in case they receive a scam email. If you are expecting an update from your accounting firm, you should avoid an email with a subject heading of “Corporate Income Return for YA 2019”. Most recipients would be urged to download the attachments in the email, which is likely to install a virus in your computer. If you have received the following email or text, you shouldn’t respond to it. Furthermore, we would advise you to change your passwords to avoid any potential transactions:
In case you have received a similar email or text, it will urge you to take the following measurements to proceed with your tax filing actions:
- The email will contain hyperlinks or downloadable files to help you review your tax statement. You will be asked to click on it.
- The sender will request you to send a specific amount of money to an unidentifiable or overseas account.
- Pay/transfer a specific amount of money to individuals, residing outside of Singapore, to proceed further.
- Submit your bank account number to claim cash rewards, tax deductions, and other remunerations on your tax amount.
- Submit confidential information of your accounts and banks to access your tax information.
We urge you do not respond to these unsolicited emails and phone calls, and report the complaint to the IRAS immediately. Work with a trusted accountant for preparing and filing your taxes to avoid the instances of any fraudulent activities. Remember that once you proceed further with the scam, the IRAS wouldn’t be able to assist you with recovering your money or confidential information. The best way to avoid such instances is dependable on recognizing and reporting scams on an immediate basis.
How to identify scams?
If you aren’t sure how to recognize scams then, the following tips should help you with identifying any fraudulent activities and emails: