Infosys has come under regulatory scrutiny in Singapore, with the Inland Revenue Authority of Singapore (IRAS) imposing a financial penalty on the Indian IT major.
According to a stock exchange filing on August 13, the IRAS has levied a penalty of SGD 97,035.9, which amounts to over INR 66 lakh, in connection with Goods and Services Tax (GST) payments for the period April 2025 to June 2025.
The company acknowledged receipt of official communication regarding the penalty and clarified that the development does not have any material impact on its financials, operations, or overall activities.
IRAS, Singapore’s principal tax administrator, is responsible for the assessment and collection of taxes. While Infosys has not disclosed detailed reasons behind the penalty, it pertains specifically to GST compliance during the mentioned quarter.
The company’s regulatory disclosure was aimed at maintaining transparency with stakeholders in accordance with listing norms.
Separately, Infosys has also made a strategic move in the Asia-Pacific region by announcing its intention to acquire a majority stake in Versent Group, a cloud and digital transformation provider based in Australia and a wholly-owned subsidiary of Telstra.
The deal involves Infosys acquiring 75 percent ownership in the company for AUD 233.25 million.
The acquisition is part of a joint venture initiative between Infosys and Telstra to deliver AI-enabled digital and cloud solutions to businesses in Australia. The deal will see Infosys take operational control of Versent Group, with Telstra retaining a 25 percent minority stake.
