Eyes of the taxman are on you now

It said main contributions for the fourth quarter increase came from accommodation and food and beverages services activities (2.5%), education (1.4%), arts, entertainment and recreation (1.1%) and real estate activities (0.7%).

THOSE with a taste for luxury items may soon find themselves on the taxman’s radar.

The Inland Revenue Board (IRB) will start scrutinising and investigating those with unexplained and extraordinary wealth, especially those in possession of luxury goods, jewellery, handbags or property.