Refunds

This is a fast and convenient way to pay and receive your Individual Income Tax and Property Tax Bill and Refund respectively. Please note electronic GIRO application is currently only available to DBS/POSB and OCBC customers.

If you are already paying your taxes via GIRO using your own bank account, no action is required from you. Your Individual Income Tax and Property Tax Refund will be automatically credited into the bank account used for your GIRO arrangement with IRAS, within 7 days from the date the tax credit arises.

If you do not have a GIRO arrangement with IRAS to pay your taxes and would like to receive your tax credits via Direct Crediting, please sign up for GIRO via the link below. Please note that future payments will be deducted from this bank account and the bank account will only be used for refund purposes if it is your own personal bank account.

Apply now via: myTax Portal

This is a fast and convenient way to receive your Individual Income Tax, GST, Property Tax, Stamp Duty and Corporate Income Tax credits.

Individuals (including GST-registered individuals and sole-proprietors) may sign up for PayNow by linking their NRIC/FIN to their bank account via internet banking. GST-registered companies and organisations may sign up for PayNow Corporate by linking their UEN (without suffix). Learn how to link NRIC/FIN/UEN to PayNow. If you require further assistance in signing up for PayNow, please approach your bank.

Participating Banks

You can sign up for PayNow NRIC/FIN if you have an individual account with the following banks:

You can sign up for PayNow Corporate if you have a corporate account with the following banks:

GST and Corporate Income Tax refunds

For GST-registered individuals and sole-proprietors with existing Paynow as well as companies and organisations with existing PayNow Corporate, the tax refund will be credited into the bank account linked to their PayNow/PayNow Corporate within 7 days from the date the credit arises. If they do not have an existing PayNow/PayNow Corporate and sign up for PayNow/PayNow Corporate after the tax credit arises, they will receive the tax refund in about 21 days from the date they signed up for PayNow/PayNow Corporate. Subsequent tax refunds via PayNow/PayNow Corporate will be made within 7 days from the date the credit arises.

Individual Income Tax and Property Tax refunds

If you are paying your individual income tax/property tax via GIRO using your own bank account, the tax refund (if any) will be made to the GIRO bank account. Otherwise, the refund will be processed via PayNow-NRIC/FIN/UEN.

For individuals/entities with existing PayNow linked to their NRIC/FIN/UEN, the refund will be made to the bank account linked to their NRIC/FIN/UEN within 7 days from the date the credit arises. For individuals/entities who do not have a NRIC/FIN/UEN-linked PayNow account, a refund cheque will be issued to their address registered with IRAS, within 30 days from the date the credit arises.

For property tax refunds where the property is owned by more than 1 owner, the refund will be processed to the owner who is listed first in the Notice of Transfer or the main applicant listed in the purchase of flat.

Tax refunds via cheque generally take up to 30 days from the date the credit arises. We encourage you to sign up for GIRO or PayNow-NRIC/FIN/UEN to receive your refunds earlier. 

Refer to: PayNow

If you do not have a GIRO arrangement or NRIC/FIN/UEN-linked PayNow account, you will receive your tax refunds by cheque issued in your name. If you have received the refund cheque, you should encash it where possible. IRAS will only reattempt the refund via PayNow/GIRO once the cheque expires.

You should deposit the tax refund cheques from IRAS into your bank account within 3 months from the date of issuance of the cheque. Bank charges such as commissions and bank fees may apply if you deposit the cheque in a bank overseas.

We encourage you to sign up for GIRO or PayNow-NRIC/FIN/UEN to receive your refunds earlier.

If you are already paying your taxes via GIRO using your own bank account, no action is required from you. Your tax refund will be automatically credited into the bank account used for your GIRO arrangement with IRAS, within 7 days from the date the tax credit arises.

If you do not have a GIRO arrangement with IRAS to pay your taxes and would like to receive your tax credits via Direct Crediting (For GST, Corporate Income Tax, Individual Income Tax, Property Tax and Stamp Duty), please complete the relevant authorisation form below. 

• Singpass Login (for individuals, including sole-proprietors)
• Corppass Login (for companies)
• No Singpass/Corppass (for taxpayers with no Singpass/Corppass)

If you do not have a Singapore bank account, you may request for tax refunds via Telegraphic Transfer by submitting the Telegraphic Transfer request form available below.

• Singpass Login (for individuals, including sole-proprietors)
• Corppass Login (for companies)
• No Singpass/Corppass (for taxpayers with no Singpass/Corppass)

If the currency requested is not available, the amount transferred to you will be in US dollars. Bank charges and any loss due to exchange rate differences will be borne by you.

As telegraphic transfers will incur bank charges and exchange rate differences, any tax refund below SGD100 will not be automatically refunded but will be retained in your tax account to offset your future tax liabilities. If you wish to receive any refunds below SGD100 via telegraphic transfers, please write to us via myTax mail on myTax Portal using your Singpass, Singpass Foreign user Account (SFA) or Corppass.

1. Absence of electronic refund mode

From 3 Jan 2022, Corporate Income Tax and GST refunds are not given automatically for businesses without GIRO with IRAS or PayNow Corporate. 

2. Outstanding Taxes/Penalties

When you have outstanding taxes/ penalties, your tax credit will be used to offset any outstanding taxes or penalties that you may have. You will not receive any tax refunds if your outstanding taxes/ penalties exceed your tax credits.

3. Advance Payment of Tax Assessment 

When you have made an advance payment in anticipation of a tax assessment.

4. Credit Due to GIRO Deductions

When your tax credit is a result of GIRO deductions for your provisional instalment plan and your tax assessment has not been finalised for that Year of Assessment.

5. GST Returns Not Filed

When you have one or more outstanding GST returns not filed.

6. Under Audit or Investigation

When you are under audit or investigation by the Comptroller.

7. Prior Unsuccessful Tax Refunds

When prior attempts to refund the tax credit to you had been unsuccessful.

8. Failure to Furnish Details for Tax Refund

When you have failed to provide IRAS with the necessary information to effect the tax refund. 

9. No Reply to Assessment Enquiries

When you have not replied to any outstanding assessment enquiries that may have an impact on the tax position.

10. Company Dissolved

When your company has dissolved, IRAS will hand over any tax credit in your company's account to the Insolvency and Public Trustee's Office (IPTO).

If you are the shareholder of the defunct company, you can approach IPTO to claim the tax credit. Charges will be imposed by IPTO for processing of the claim.

11. Bankruptcy

After you filed for bankruptcy, IRAS will hand over any tax credit you have to the Insolvency and Public Trustee's Office (IPTO). You may approach the Official Assignee for more information.

12. Overpayment of Withholding Tax

When there is overpayment of Withholding Tax under Section 45 of Income Tax Act remitted to the Comptroller of Income Tax.

Tax refund claims need to be filed by the local payer who remitted the tax or by the non-resident whose income was liable to tax. Tax credit will be refunded within 30 days upon IRAS' agreement and notification to Local Payer/Non-Resident of the refundable amount. 

13. Claims Approved After Sale of Property

If you are the ex-owner of a property, and the tax refund will not be made automatically to you if the tax credits arise from claims approved after the sale of a property. You will have to submit a request via myTax Portal within the time period stipulated in the letter sent by IRAS for us to process your tax refund.

14. Tax refunds below SGD100 to be made via Telegraphic Transfer

Tax refunds below SGD100 that is to be made via telegraphic transfers will instead be retained in your tax account to offset future tax liabilities. Please refer to 'Tax Refunds via Telegraphic Transfer' for details.

15. Other Circumstances

When there are any other circumstances that do not permit the tax credit to be refunded by IRAS.

If you would like us to refund your tax credit, please email us with the information below. Your request will be processed within 30 days.

• Instruction for IRAS that you would like IRAS to refund your tax credit and the amount of tax credit to be refunded;
• Your Full Name/Company's Name/Property Address;
• Your Tax Reference number (e.g. NRIC/FIN/ROC/Property Tax reference);
• Your Contact number; and
• Your Email address (if it differs from the one which you have used to contact us).

If you wish to retain your tax credit* to offset future taxes, please email or write in to us with the following information: 

1. Your Full name/Company's name/Property address;
2. Your Tax reference number (e.g. NRIC/FIN/ROC/Property tax reference);
3. Instruction for IRAS that you would like IRAS to retain the tax credit to offset future taxes; and 

Please append the refund cheque (if applicable) with your letter to IRAS or send it separately to IRAS if you are emailing IRAS.

* Not applicable to Withholding Tax

You have a GIRO arrangement with IRAS.

Your tax assessment was finalised on 15 Jul and you have a tax credit of $5,000 to be refunded. IRAS is considered to be late if the tax refund is not made by 14 Aug.

If the tax credit is refunded on 30 Aug, interest will be paid on the principal sum of $5,000 for the period 15 - 30 Aug (16 days) as follows:

$5,000 x 4.7% x 16/365 = $10.30

IRAS will refund $5,000 together with the late tax refund interest of $10.30.

You have registered PayNow Corporate.

IRAS receives the GST return for the month of June on 15 Jul and you have a tax credit of $5,000 to be refunded. IRAS is considered to be late if the tax refund is not made by 15 Aug.

If the tax credit is refunded on 30 Aug, interest will be paid on the principal sum of $5,000 for the period 16 - 30 Aug (15 days) as follows:

$5,000 x 4.7% x 15/365 = $9.66

IRAS will refund $5,000 together with the late tax refund interest of $9.66.

You have a GIRO arrangement with IRAS.

IRAS receives the GST return for the period Apr - Jun on 31 Jul with a GST refund claim of $80,000. IRAS is considered to be late if the tax refund is not made by 31 Oct.

If the tax credit is refunded on 3 Nov, interest will be paid on the principal sum of $80,000 for the period 1 - 3 Nov (three days) as follows:

$80,000 x 4.7% x 3/365 = $30.90

IRAS will refund $80,000 together with the late tax refund interest of $30.90.

The following example applies only for tax refund claims submitted on or after 1 Jan 2012.

IRAS receives the GST return for the period Jan - Mar on 30 Apr with a GST refund claim of $40,000. IRAS requests information during an audit on your tax refund claim. You reply to us with the full information on 1 Jun. You have a GIRO arrangement with IRAS.

IRAS is considered to be late if the tax refund is not made by 1 Sep. If IRAS refunds the $40,000 on 4 Sep, interest will be paid on the principal sum of $40,000 for the period 2 - 4 Sep (three days) as follows:

$40,000 x 4.7% x 3/365 = $15.45

IRAS will refund $40,000 together with the late tax refund interest of $15.45.

IRAS receives the GST return for the period Jan - Mar on 30 Apr with a GST refund claim of $65,000. You reply to us with full information on 1 Jun. You have a GIRO arrangement with IRAS.

Normally, IRAS is considered to be late if the tax refund is not made by 1 Sep, since you have complied with IRAS’ request for information. 

However, as IRAS reasonably suspects that the underlying purchase for which you are claiming input tax was a part of a Missing Trader Fraud arrangement, no late interest is payable even if the tax refund is not made by 1 Sep. A notification letter will be issued to inform you of the retention of GST refunds by the Comptroller of GST.