Corporate Income Tax
How GIRO works
Date of Deduction* | Every 6th of the month. If failed, the second deduction will be done on 20th of the month. GIRO arrangement will be cancelled if deductions are failed on both dates (6th and 20th ). You have to make full payment of outstanding tax at myTax Portal (Select “Account” > “Pay Taxes”) or re-activate the GIRO arrangement (Select “Account” > “Apply for Payment Plan”) to avoid penalties. For a successful GIRO deduction, please make sure that your bank account has enough funds and that you have set a suitable payment limit. |
| How many instalments can my company* be granted | Depends on the promptness of filing the Estimated Chargeable Income (ECI). No instalment for back years' taxes. *Only Companies registered in Singapore are eligible for instalment. |
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 |
- The instalment plan is subject to a minimum monthly GIRO deduction amount of $50.
- The first few instalments may be combined and deducted on the first GIRO deduction date, depending on the date of filing of ECI.
- IRAS may vary the instalment plan for companies that file revised ECIs.
Apply for eGIRO with DBS/POSB, OCBC, UOB, Bank of China and Maybank
- eGIRO arrangement will be set up instantly upon approval by the company's authorised approver
- eGIRO arrangement will be set up instantly upon approval by the company's authorised approver
Benefits of eGIRO
- It's fast to set up
- It's easy to track your application status
- It's all digital and you do not have to print paper forms
How to submit an eGIRO application
The applicant needs to be authorised via Corppass and has access to the Internet Banking Portal. Steps for Applicant(Maker) to apply for eGIRO: 1. Log in to myTax Portal with your Singpass. 2. Go to "Account" > "Apply for Payment Plan". 3. Select your bank under "New eGIRO arrangement". 4. Select the tax account(s) that you wish to set up for eGIRO arrangement and click "Submit". 5. You will be redirected to log in to your Internet Banking Portal. Select your bank account and submit your eGIRO application. 6. Upon successful submission at the Internet Banking Portal, you need to return back to myTax Portal to complete the eGIRO application. | |
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Steps for Approver to authorise the eGIRO application: (To approve the application within 48 hours as the application will lapse after 48 hours.) 1. Log in to your Internet Banking Portal. 2. Authorise the eGIRO application. |
After IRAS receives the approval from the bank, you can view your payment plan for the outstanding tax balance(if any) via "Account" > "View/Cancel Payment Plan" digital service.
Please click here for a step-by-step guide on how to submit an eGIRO application.
Apply for GIRO with other banks
- GIRO arrangement will be set up within 21 working days
- GIRO arrangement will be set up within 21 working days
Please complete the GIRO application form and mail it to IRAS. The GIRO arrangement will be set up within 21* working days.
*The exact timeline is subject to the processing of the respective banks.
| Master GIRO | Corporate Tax GIRO |
| Allows you to pay your Income Tax, Goods & Services Tax, Property Tax and/or Withholding Tax by completing one application form. Please use your own bank account when signing up for Master GIRO. Download Master GIRO Form (PDF, 689KB) | If you are using 3rd party bank account to sign up for GIRO. Download Corporate Tax Application Form (PDF, 3.98MB) |
IRAS will send you a notification to view the notice of your GIRO application status via your preferred notification mode (E.g. GIRO approval notices and Instalment Plan will be stored in myTax Portal). You may log in to myTax Portal to view your payment plan details (Select “Account”> “View/Cancel Payment Plan”).
For GIRO applications received after the 20th of the current month, deductions will only commence on the month after the upcoming month.
Re-activate GIRO
If your GIRO arrangement has been cancelled and you wish to re-activate any previous GIRO set up with IRAS, please do so via myTax Portal (Select "Account" > "Apply for Payment Plan").
Upon successful re-activation, you may log in to myTax Portal to view your payment plan details (Select "Account" > "View/Cancel Payment Plan").
Make changes to GIRO arrangement
Changing my GIRO arrangement to another bank account
If you want to use a bank account that has not been used for GIRO with IRAS, you will have to submit a new GIRO application (refer to Apply for eGIRO / Apply for GIRO). Your current GIRO arrangement will be automatically cancelled and replaced once the new GIRO application has been approved. The new GIRO arrangement will take effect from the next deduction.
You will be notified via your preferred mode of notification on the revised payment plan. You may also log in to myTax Portal to view your payment plan details (Select "Account > "View/Cancel Payment Plan").
Cancel / Terminate my GIRO Arrangement
If you wish to cancel your existing GIRO arrangement with IRAS, please do so via myTax Portal (Select "Account" > "View/Cancel Payment Plan"). By cancelling the GIRO arrangement, you may still proceed to re-activate the GIRO arrangement for future tax payments.
If you wish to terminate your GIRO arrangement with IRAS, please get in touch with your bank directly. After the termination of your current GIRO arrangement, you will have to apply for a new GIRO arrangement.
Do remember to settle any outstanding tax immediately after the cancellation/termination of GIRO arrangement to avoid late payment penalty.
Please log in to myTax Portal
(Select "Account" > "View Account Summary") to view your latest tax balance.
Change my Plan Type
If you wish to make the following change:- Monthly instalment to one-time yearly deduction or
- One-time yearly deduction to monthly instalment
You can log in to myTax Portal to cancel your GIRO plan (Select "Account" > "View/Cancel Payment Plan"), re-activate your GIRO (Select "Account" > "Apply for Payment Plan") and select your preferred plan type.
Request to Extend Payment Plan
If you need help with your tax payment, please refer to this link to apply for a longer GIRO plan.