- More to Receive Direct Tax Bills
- 2-Line Statement Extended to Partnerships
- GIRO for Easier Tax Payments and Refunds
7 in 10 taxpayers (or more than 1.6 million of 2.3 million taxpayers) are eligible for the No-Filing Service (NFS) this year. The Inland Revenue Authority of Singapore (IRAS) will also be rolling out initiatives to simplify the tax filing experience. More taxpayers will receive direct tax bills in place of filing notices, skipping the tax filing process altogether. More partnerships will also experience easier filing with a 2-line statement for a revenue of up to $200,000. Taxpayers are encouraged to sign up for GIRO to pay their taxes and receive tax refunds safely and seamlessly. IRAS will also be introducing PayNow as an alternative tax refund mode for taxpayers who are not on GIRO.
Simplifying the Tax Filing Process
More to Receive Direct Tax Bills
Taxpayers who are on the NFS do not need to file an Income Tax return, but are required to verify the accuracy of their auto-included income information and check their eligibility for any tax reliefs claimed.
Of the 1.6 million taxpayers who are on the NFS, around 120,000 taxpayers will benefit from the Direct Notice of Assessment (D-NOA) initiative this year. They will get their tax bills directly, with their income information automatically included and tax reliefs pre-filled. Taxpayers who wish to make changes to their income and/or tax relief details upon receiving their tax bills can still file an amendment using the Object to Assessment digital service on myTax Portal within 30 days from the date of their tax bill.
2-Line Statement Extended to Partnerships
Partnerships will now enjoy simplified tax filing with the 2-line statement i.e. Revenue and Adjusted Profit/Loss for a revenue of up to $200,000 in YA2022. Previously, only sole-proprietors with revenues of $200,000 or below were able to enjoy the benefits of filing the 2-line statement. An estimated 17,000 partners are expected to benefit from easier filing processes and simplified record-keeping requirements this year, in addition to over 21,000 sole-proprietors. Partners and sole-proprietors will need to report their business income using the 4-line statement i.e. Revenue, Gross Profit/Loss, Allowable Business Expenses and Adjusted Profit/Loss, only when their revenue exceeds $200,000.
New Filing and Relief Checkers on the IRAS Website
Taxpayers including sole-proprietors and partners who are required to file an Income Tax return should do so at myTax Portal between 1 March and 18 April 2022. Taxpayers can check on both their filing requirements and the tax reliefs they are eligible for this year using the filing checker and relief checker on the IRAS website, which features personalised content tailored to different individual profiles. Employees and directors whose employers are not on the Auto-Inclusion Scheme (AIS) are reminded to report their employment income as their income are not automatically included.
Greater Convenience with Digital Tax Bills and Payment/Refund Modes
9 in 10 to Receive Digital Tax Bills
More than 90% of taxpayers will be receiving digital tax bills via myTax Portal this year. Taxpayers should ensure that their contact details and notification preferences on myTax Portal are up-to-date, so that they can receive timely notifications when their tax bills are ready for viewing.
GIRO or PayNow for Easier Tax Payments and Refunds
Taxpayers are encouraged to sign up for GIRO for safe and seamless tax payments and refunds. Those who are paying by GIRO can enjoy up to 12 months of interest-free instalment payments. IRAS will also be introducing PayNow as a new tax refund mode1 from July 2022 for taxpayers who are not on GIRO. With this, taxpayers will be able to receive tax refunds into their bank accounts promptly and securely following any overpayments or erroneous payments. Taxpayers can visit the IRAS website for more details on GIRO and PayNow for tax transactions.
Stay Vigilant Against Phishing Scams This Tax Season
In view of the rise in phishing scams, IRAS would like to advise taxpayers to be vigilant and not be deceived by fake SMSes, emails and WhatsApp messages with spoofed IRAS’ name. To avoid getting scammed, click only links with “iras.gov.sg” or ”go.gov.sg”. For tax transactions including filing and payments, taxpayers should use relevant forms and digital services in myTax Portal secured by Singpass login. IRAS will not send PayNow QR codes to taxpayers via physical and digital notices, SMSes, emails and WhatsApp messages. PayNow QR codes for tax payment can only be generated after logging into myTax Portal, or upon selecting the “Make Tax Payment” option in the chatbot located on the IRAS website. IRAS will also not solicit taxpayers’ personal details or any confidential information via email or unsecured web links. More details can be found at IRAS’ Advisory on Scam & Fraudulent Activities.
Need Assistance with Filing Your Taxes?
Contact IRAS digitally through the following channels:
- Ask Jamie, a virtual assistant on tax filing matters
- Call 1800 356 8300 or chat online (Mon – Fri, 8 a.m. to 5 p.m.)
- Send an email via myTax Portal
Alternatively, make an appointment with IRAS (at least 2 working days in advance). Taxpayers can also visit ServiceSG Centres at Our Tampines Hub (OTH), Nee Soon Central Community Club (CC), and Kampong Chai Chee CC for filing assistance, except for Public Holidays. OTH operates daily from 9 a.m. to 6 p.m., while Nee Soon Central and Kampong Chai Chee CCs operate daily from 10 a.m. to 6 p.m.
Voluntary Disclosure of Errors for Reduced Penalties
Taxpayers who have under-declared income or made incorrect expenses or relief claims in previous years should make a voluntary disclosure on myTax Portal in a timely manner. Penalties for voluntary disclosures may be reduced if qualifying conditions are met.
For more information, please visit https://www.iras.gov.sg.
Inland Revenue Authority of Singapore
1Existing tax refund modes include GIRO, direct crediting and telegraphic transfer.