Suggested Reading:
Last week, my op-ed "Settling the (tax) score after the fall" (BT, May 22) described how a theme of vengeance could end up hurting many taxpayers especially if they slacken in their tax affairs during these trying times. Some have told me that the tone of the article was "scary" even if it represents some "hard truths" in the world of taxation. As we prepare to exit the circuit breaker, here is a more benign piece aimed at spreading positive vibes especially in the tax field...
More than three million people worldwide have been infected with COVID-19 and the number of confirmed cases in Singapore have crossed the 20,000 mark as at the beginning of May 2020. The circuit-breaker period has been extended to 1 June 2020 and tighter circuit breaker measures such as closing of more workplaces were also implemented to curb the spread.
While we are still in the extended Circuit Breaker period, which is anticipated to end on 1 June 2020, businesses and individuals may want to review their respective positions to ensure they are not missing out on the support measures that have been announced by the Singapore Government in the past few months.
Settling the (tax) score after the fall
By: Loh Eng Kiat, Partner & Practice Leader, Tax 
First published in The Business Times on 22 May 2020
During the violent Hong Kong protests, a Financial Times article (assertively titled "Beijing will have its revenge on Hong Kong") referenced the Chinese phrase qiu hou suan zhang, in concluding that vengeance by the Chinese government will be forthcoming even if the questions of when and how remain unclear.
With the literal translation of the phrase being "to balance the books after the autumn harvest", that article highlights this Chinese aphorism that can be used in many situations, particularly where the vengeance aspect is almost certain but an element of patience is required in the circumstances [...]
Download Settling the (tax) score after the fall:
>> Back to Baker Tilly Singapore Coronavirus Resource Hub>> Main Page
DISCLAIMER: All opinions, conclusions, or recommendations in this article are reasonably held by Baker Tilly at the time of compilation but are subject to change without notice to you. Whilst every effort has been made to ensure the accuracy of the contents in this article, the information in this article is not designed to address any particular circumstance, individual or entity. Users should not act upon it without seeking professional advice relevant to the particular situation. We will not accept liability for any loss or damage suffered by any person directly or indirectly through reliance upon the information contained in this article.