Time Limit to Raise Assessment

 

The statutory time limit for IRAS to raise an assessment or additional assessment is four years. However, this statutory time limit will not apply to cases where fraud is involved.

Examples

Companies with December financial year end

Year of Assessment (YA)Financial Year ending inStatutory time limit to raise an assessment/
additional assessment

2017

2016 (e.g. 1 Jan 2016 to 31 Dec 2016)

31 Dec 2021

20212020 (e.g. 1 Jan 2020 to 31 Dec 2020)31 Dec 2025

Companies with non-December financial year end, e.g Jun, Sep

YAFinancial Year ending inStatutory time limit to raise an assessment/
additional assessment

2017

2016 (e.g. 1 Jul 2015 to 30 Jun 2016)

31 Dec 2021

20182017 (e.g. 1 Jul 2016 to 30 Jun 2017)31 Dec 2022
20192018 (e.g. 1 Jul 2017 to 30 Jun 2018)31 Dec 2023
20202019 (e.g. 1 Oct 2018 to 30 Sep 2019)31 Dec 2024
20212020 (e.g. 1 Oct 2019 to 30 Sep 2020)31 Dec 2025