Legal, compliance and restructuring
Data room for IRAS tax audits and reviews
Short answerIRAS audits and reviews for income tax, GST or transfer pricing require the company to provide records and explanations on deadline. A data room helps the finance team and tax advisers assemble responses and keep a record of what was submitted.
How it works in Singapore
IRAS reviews can cover corporate income tax, GST, withholding tax and transfer pricing. Companies work with tax advisers to respond to queries.
Best data rooms for iras tax audits
Our five measures re-weighted for this use case, with a small bonus for rooms built for it. Prices before 9% GST.
- 1
Ellty ~S$191/mo 9.1 Visit Ellty - 2
iDeals On quote 8.6 - 3
Datasite On quote 8.5 - 4
Ansarada On quote 8.4 - 5
Firmex On quote 8.3 - 6
Drooms On quote 8.2 - 7
Box ~S$19/user/mo 8.1 - 8
Intralinks On quote 8.1 - 9
DealRoom On quote 8.0 - 10
Citrix ShareFile ~S$70/mo 7.9
22%Security20%Deal tools21%Permissions20%Ease of use17%Cost
Folder index for iras tax audits
01
IRAS queriesLetters and response deadlines.
02
ResponsesDrafts and final responses.
03
Supporting recordsInvoices, contracts, ledgers.
04
Transfer pricingTP documentation and benchmarking.
Singapore rules that apply
Record keeping
Businesses must keep records for at least five years under Singapore tax law.
Transfer pricing documentation
Companies above thresholds must prepare contemporaneous transfer pricing documentation.
More detail: GST on software.
Features you need
| Feature | Why it matters here | Rooms in our top 10 that list it |
|---|---|---|
| Audit trail | Time-stamped history of who opened, printed or downloaded each document, exportable for a dispute, insurer or regulator. | 10 of 10 |
| View and download control | Each file can be set to view-only, print or download, and the setting can be changed later. | 9 of 10 |
| Folder upload | A whole folder tree goes up in one drag, keeping its numbering. | 10 of 10 |
How to set it up
- Track deadlinesList each query and due date.
Mistakes to avoid
- Missed response deadlines.
- Inconsistent answers across queries.
Questions people ask
How long must records be kept in Singapore?
Generally at least five years.
Who should have access?
Finance, tax advisers and, where needed, legal counsel.
Does IRAS access the room?
Responses are submitted through IRAS channels; the room is for internal and adviser preparation.