SDTR Marine Awarded ‘ACAP Premium’ Status by IRAS
SDTR Marine is pleased to announce that the Inland Revenue Authority of Singapore (IRAS) has awarded ‘Assisted Compliance Assurance Programme (ACAP) Premium’ status to the company.
As part of good corporate governance, SDTR Marine has demonstrated a long-term commitment to incorporating GST risk management into its operations. This recognition, effective from 1 January 2025 to 31 December 2029, underscores SDTR Marine’s dedication to maintaining a robust tax infrastructure that ensures ongoing GST compliance.
The objective of ACAP, introduced by IRAS, is to support businesses in enhancing tax compliance and effectively managing tax risks through robust governance practices. ACAP is a voluntary initiative designed to foster self-governance and minimize tax errors by implementing a structured internal control framework. As part of the program, businesses undergo an independent review conducted by an accredited external party. Upon IRAS's approval of the review findings, the business may be awarded ACAP Premium Status (valid for five years), or ACAP Merit Status (valid for three years).
Achieving ACAP Premium Status aligns with SDTR's Environmental, Social, and Governance (ESG) framework. Effective governance practices are essential for fostering trust and transparency; identifying, managing, and mitigating risks; and strategically positioning the business for long-term sustainability. This commitment enhances the trust and confidence of our clients.