Businesses
GIRO
GIRO (General Interbank Recurring Order) is the preferred method of payment. Majority of taxpayers use GIRO for tax payment.
The number of instalments granted to the company for the current year of assessment depends on the promptness in filing its Estimated Chargeable Income (ECI).
No instalment arrangement will be granted for back year taxes.
Tax payable on first ECI e-Filed within |
No. of Instalments Given (Notes 1 to 3) |
1 month from financial year end |
10 |
2 months from financial year end |
8 |
3 months from financial year end |
6 |
After 3 months from financial year end |
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 26th of each qualifying month to enjoy the maximum number of instalments allowable for each month.
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)
Request to Extend Payment Plan
Electronic Payment Modes
Telegraphic Transfer
Telegraphic Transfer is only for payments from overseas where the payment modes listed above are not applicable.