If you decide to cease your business and leave Singapore permanently, you have to settle your taxes before you leave.
Settling your taxes
- Contact our office one month before the expected date of departure.
- Provide your 4-line statement for the period 01 January of the current year up to the last day of your business.
- Provide your income from all sources for the period 01 January of the current year up to the expected date of departure.
What happens after that?
- IRAS will finalise your taxes based on the information that you have provided and send you the Notice of Assessment.
- You have to settle the payment of your taxes before you leave.