New data released by the Inland Revenue Authority of Singapore (IRAS) indicates sustained adoption and high retention rates for the Assisted Compliance Assurance Programme (ACAP).
According to statistics published on the IRAS website on 1 April 2025:
- Cumulative Adoption: Since its inception in 2011, approximately 1,100 businesses across diverse industry sectors have successfully applied for the ACAP.
- Active Participants: As of 31 March 2025, over 900 businesses maintain active ACAP status.
- High Renewal Rate: Demonstrating strong program engagement, more than 90% of businesses whose ACAP status expired applied to renew their participation.
The ACAP is designed to provide businesses recognized for strong internal controls and compliance processes with streamlined GST filing and audit procedures. The latest figures underscore the program’s ongoing traction within the Singapore business community, particularly the significant renewal rate suggesting high satisfaction and value derived by participants.
Source: IRAS, 1 April 2025.