Businesses

 

As announced in Budget 2020, companies that are on GIRO and filed their Estimated Chargeable Income (ECI) on time (i.e. within three months from the end of their financial year) (i.e. qualifying companies) will automatically qualify for an additional two months of interest-free instalments, if the ECI is filed as follows:

1. during the period from 19 Feb 2020 to 31 Dec 2020 (both dates inclusive); or
2. before 19 Feb 2020 and the company has an ongoing instalment payment to be made in Mar 2020. 
   

The table below sets out the number of instalments a qualifying company would receive if it qualifies for the automatic two-month extension of the instalment plan:

	No. of Instalments Given (Notes 1 to 3)
Tax payable on first ECI e-Filed within	Current instalment plan	Extended instalment plan for qualifying companies
1 month from financial year end	10	12
2 months from financial year end	8	10
3 months from financial year end	6	8
After 3 months from financial year end	No instalments allowed	No instalments allowed

Notes
1. The instalment plan is subject to a minimum monthly GIRO deduction amount of $50.
2. The first few instalments may be combined and deducted on the first GIRO deduction date, depending on the date of filing of ECI.
3. IRAS may vary the instalment plan for companies that file revised ECIs.

e-File by 26^th of each qualifying month to enjoy the maximum number of instalments allowable for each month.

Under the Resilience Budget announced on 26 Mar 2020, all companies with Corporate Income Tax (CIT) payments due in the months of Apr, May and Jun 2020 will be granted an automatic three-month deferment of these payments. Please refer to the Deferment of Corporate Income Tax (CIT) Payments for more information on how the three-month CIT payment deferment applies to estimated tax payable on ECI e-Filed.    

  

(Recommended) Master GIRO Application Form & Return Envelope (PDF, 1.29MB)

A Master GIRO allows you to pay your Income Tax, Goods & Services Tax and/or Property Tax by completing one GIRO application form. You need to use your own bank account when signing up for Master GIRO.

Corporate Tax Application Form & Return Envelope (PDF, 4.04MB)

(For taxpayers not using own bank account to sign up for GIRO)

Re-activate now via myTax Portal

Use a Different Bank Account for my Existing GIRO Arrangement

• Submit a new GIRO application  
• Revised payment plan will be sent once application is processed
• Log in to myTax Portal to view payment plan details (Select "Account">View Payment Plan")

Terminate my GIRO Arrangement

• Contact your bank directly
• Settle any outstanding tax immediately to avoid late payment penalty

Change my Plan Type (e.g. monthly instalment to one-time deduction)

• Email us