In Parliament: PSP NCMP Hazel Poa expresses concerns over security of income information under Income Tax (Amendment) Bill

Progress Singapore Party Non-Constituency Member of Parliament Hazel Poa sought clarifications at the debate on the Income Tax (Amendment) Bill on Monday (Oct 4), which was passed later in the session.

And while she appreciated the “good intentions” of the amendment, which includes enabling government departments to proactively reach out to companies that may qualify for assistance programmes, she expressed concerns over the security and protection of taxpayers.

“Income information is something most consider highly confidential and sensitive, more so than other personal data like address, phone numbers etc,” Ms Poa, a businesswoman by profession, said.

She asked Senior Minister of State for Finance Chee Hong Tat what the penalty is for this offence.

“Would that be under section 94 of the Income Tax Act which states the penalty as maximum $5000 fine, and in default, imprisonment not exceeding 6 months? Does the Minister think it is adequate for deterrence purposes?”

Ms Poa added that while under the PDPA, the penalty for the unauthorised disclosure of personal data is $5000 fine at most or imprisonment not exceeding 2 years or both, would the penalty for unauthorised disclosure of income information come under further review?

The PSP NCMP also asked what measures exist that would prevent those with access to confidential income information on individuals and companies from using that confidential information for personal or their company’s gain.

“What penalties are in place for unauthorised utilisation of information? The financing gains for such unauthorised utilisation may outweigh a $5000 fine,” she added.

She also said that she feels that the bill should specify the circumstances under which “disclosure can take place instead of staying open-ended and throwing the gate open to disclosure without consent under all other circumstances.”

Mr Chee said that safeguards will be imposed for the purpose of protecting data confidentiality.

“Information in a prescribed list will be provided in a less granular form. For instance, the company’s sales revenue will be shared in ranges rather than the exact value.”

/TISG

In Parliament: Chee Hong Tat says gov’t to consider more assistance & support, especially if inflation ‘worsens further’

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