According to the organization, how this might occur may be caused by family members who double as bookkeepers, which could lead to incorrect income and expenditures being recorded. Similar to this, repayment from clients may not be documented, which is generally cash from contributions made by family and friends.
One spiritual person has also been charged by IRAS since February.  ,
According to IRAS, one of the possible offenses that such service providers may undertake is occasionally omitting the earnings from hongbao or goodwill when it should be categorized as employment income.
Proceeding Electronic
To avoid breaking the law, IRAS is encouraging businesses in the death industry to switch to digital technology.
Ang Yew Seng Funeral Parlour, which now prefers online banking and QR code payment, is one of the companies that has already switched.
According to Ang Jia Jia, the funeral director of the company, the company has also started using online software to create invoices while traveling, which has increased efficiency.
The firm also engaged a third-party finance company.
” They help us with preparing the financial statements at year-end and as well as tax-reporting”, she said,  ,
Ms. Ang added that the auditors she employs regularly release her company with new regulations to ensure compliance.
” We also wanted to maintain a positive business reputation as well ( so ) we will have a good relationship with customers ( and ) suppliers”, she said.  ,
Ms Ang, who has been in the family-run company for more than a decade, said the industry is gradually moving away from income payments, largely prompted by the COVID-19 epidemic two years ago, when in-person call had to be reduced.