2017-03-28

Pay Personal Income Tax

Pay Personal Income Tax How to Pay Personal Income Tax GIRO is the preferred method of payment. GIRO Majority of taxpayers use GIRO for tax payment. Electronic Payment Modes PayNow QR New! Internet Banking Bill Payment Internet Banking for tax payment is made available by the following banks: BOC  CIMB  Citibank  DBS/POSB  HSBC  ICBC  MayBank  OCBC  RHB  Standard Chartered Bank  State Bank of India  UOB (BOC, CIMB, Citibank, ICBC, MayBank, RHB and State Bank of India are applicable for individual account holders only). DBS PayLah! Mobile App Pay your tax via DBS PayLah! Phone Banking Phone Banking service for DBS/POSB, OCBC and UOB account holders who have subscribed to this service. (DBS/POSB and OCBC are applicable for individual […]
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2017-10-02
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File Personal Income Tax

File Personal Income Tax Obligation to File Tax Notification to File Income Tax Return You must file an Income Tax Return if you receive a letter, form or an SMS from IRAS informing you to do so. It does not matter how much you earned in the previous year or whether your employer is participating in the Auto-Inclusion Scheme (AIS) for Employment Income. To file your tax return, please log into myTax Portal using your SingPass.   Filing Due Dates Mode of Filing Filing Deadline e-Filing 18 Apr 2020 (Extended to 31 May 2020) New Paper Filing 15 Apr 2020 (Extended to 31 May […]
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2018-03-01
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Taxable and Non-Taxable Income

Taxable and Non-Taxable Income Taxable and Non-Taxable Income All income earned in or derived from Singapore is chargeable to income tax. Generally, overseas income received in Singapore on or after 1 Jan 2004 is not taxable, except in some circumstances. Income earned may come from different sources such as: Employment Trade, Business, Profession or Vocation Property or Investments Other Sources (e.g. annuities, royalties, winnings or estate or trust income)   Income from Employment Salary, Bonus, Director’s Fee, Commission and Others Gains from the Exercise of Stock Options Income Received from Overseas Pension Retrenchment and Retirement Benefits   Income from Trade, Business, Profession […]
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2018-06-06
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Who Needs To Pay Income Tax

Who Needs To Pay Income Tax Essential information for individuals who are required to pay Income Tax.   Obligation to Pay Income Tax All individuals earning, deriving or receiving income in Singapore need to pay income tax every year, unless specifically exempted under the Income Tax Act or by an Administrative Concession. Individuals are taxed based on the income earned in the preceding calendar year. This means that income earned in the calendar year 2019 will be taxed in the Year of Assessment (YA) 2020.   Individuals Working in Singapore All individuals who receive payments (whether in the form of […]
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2019-06-19
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Tax for Non-Resident Director

Tax for Non-Resident Director Whether withholding tax is applicable depends on the residency status of the board director.   Board Director For tax purposes, a board director is a member of the board of directors of a company.   Residency Status of Board Director Physical presence in Singapore in the year preceding the Year of Assessment (YA) Residency status Withholding Tax required Less than 183 days  Non-Resident Yes, for remuneration paid to non-resident director. For details, refer to Tax Obligations for Non-Resident Directors  183 days or more Resident No. If tax has been withheld, see also Tax Refunds for Resident Directors   Executive Director […]
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2019-08-13
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Personal Income Tax Rate

Personal Income Tax Rate Income tax rates depend on an individual’s tax residency status. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a: Singapore Citizen (SC) or Singapore Permanent Resident (SPR) who resides in Singapore except for temporary absences; or Foreigner who has stayed / worked in Singapore (excludes director of a company) for 183 days or more in the year preceding the YA. Otherwise, you will be treated as a non-resident of Singapore for tax purposes.   Resident Tax Rates From YA 2017 onwards Chargeable Income Income Tax Rate (%) Gross Tax Payable ($) First $20,000 Next […]
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2020-02-29
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Tax Clearance for Foreign Employee

Tax Clearance for Foreign Employee Give Notice to Your Employer Your employer must file the Form IR21 at least one month before you cease employment with them, go on an overseas posting or leave Singapore for more than three months. For example, if you tender your resignation on 14 Aug 2020 with your last day of employment being 13 Oct 2020, your employer is required to file the Form IR21 by 14 Sep 2020. Hence, please give sufficient notice to your employer so that they can file the Form IR21 for you early. This will also give you time to settle […]
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