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Infosys has received a penalty of 97,035 Singapore dollars (over INR 66 lakh) from Singapore's tax authority for alleged delays in Goods and Services Tax (GST) payments for the April-June 2025 period. The company, which received the order on August 13, stated that the penalty does not have a material impact on its financials. In a separate development, Infosys also announced it will acquire a 75 percent stake in Versent Group, a subsidiary of Australian telecom company Telstra, for AUD 233.25 million (about INR 1,336 crore). This acquisition is part of a strategic collaboration to provide AI-enabled cloud and digital solutions for Australian businesses.
Infosys, a global IT company, has been fined by the Inland Revenue Authority of Singapore (IRAS). The tax authority has imposed a penalty of 97,035 Singapore dollars, which is over INR 66 lakh, on the company for an alleged delay in Goods and Services Tax (GST) payments for the period of April to June 2025. The order was communicated to the company on August 13, 2025. Advertisement
In a separate development, Infosys also announced that it plans to acquire a 75 percent stake in Versent Group, a wholly-owned subsidiary of Australian telecom company Telstra, for AUD 233.25 million (about INR 1,336 crore). The acquisition is part of a strategic collaboration to form a joint venture to provide AI-enabled cloud and digital solutions for Australian businesses. This is a significant strategic move for the company to expand its AI-led strategy and deliver advanced cloud and digital solutions.
According to Singapore's tax laws, the payment of GST is due within one month after the end of the accounting period. The penalty for late payment is a 5% surcharge on the outstanding tax. The IRAS also conducts regular audits to ensure compliance. The Singapore government aims to use GST to lower corporate income taxes and increase foreign direct investment, and has signed a Double Tax Avoidance Agreement (DTAA) with India to help companies avoid paying double taxes.
Infosys has clarified in a regulatory filing that the penalty, which relates to its GST obligations in Singapore, does not have any material impact on its financial position, operations, or other activities. The company, which is headquartered in Bengaluru, has a strong presence in Singapore and other parts of the world, with its diverse portfolio of services including AI-enabled cloud, data, and digital consulting.
Source- PTI
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