Refunds

If you are already paying your taxes via GIRO using your personal bank account, no additional steps are required from you. Your tax refunds will be automatically deposited into the bank account linked to your GIRO, within 7 days from when the tax credit arises.

Sign up for GIRO to get your refunds automatically credited into your bank account with GIRO today!

For Individual Income Tax and Property Tax

• DBS/POSB and OCBC customers may sign up for GIRO at myTax Portal using your personal bank account.
• For customers of other banks, please refer to GIRO for Individual Income Tax and GIRO for Property Tax on steps to sign up.

For Corporate Income Tax, GST and Withholding Tax
Please refer to the relevant links below to find out how you can sign up for GIRO.

• GIRO for Corporate Income Tax
• GIRO for GST
• GIRO for Withholding Tax

Enjoy the speed and convenience of receiving your tax refunds with PayNow today!

How to sign up for PayNow

• For Individuals (including GST-registered individuals and sole-proprietors): Sign up for PayNow by linking your NRIC/FIN* to your personal bank account via internet banking
• For GST-registered companies and organisations: Sign up for PayNow Corporate by linking your UEN (without suffix) to your bank account

Find out more on how to link NRIC/FIN/UEN to PayNow. If further assistance is required, please approach your bank.

*Currently, not all banks in Singapore may support PayNow-FIN. If you are unable to sign up for PayNow-FIN, please sign up for GIRO instead.

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:

For GST and Corporate Income Tax refunds

For those with existing PayNow, your tax refunds will be credited into your linked bank account within 7 days from the date the credit arises. If you sign up for PayNow after the tax credit arises, you will receive the refunds in about 21 days from the date you signed up, and thereafter within 7 days from the date the credit arises for subsequent refunds. 

For Individual Income Tax and Property Tax refunds

If you are currently making your tax payments with GIRO using your personal bank account,  your tax refunds will be made to the GIRO bank account. Otherwise, the refund will be processed via PayNow-NRIC/FIN/UEN. For taxpayers with existing PayNow linked to their NRIC/FIN/UEN, the tax refunds will be made to the same bank account within 7 days from the date the credit arises. 

For property tax refunds involving multiple property owners, the refund will be processed to the owner listed first in the Notice of Transfer or the main applicant listed in the purchase of the flat.

In line with the nationwide initiative to go cheque-free by 2025, the use of cheques for refunds will be phased out soon. 

Tax refunds via cheque can take up to 30 days from the date the credit arises. If you wish to speed up your tax refunds and simplify your tax payment management, sign up for GIRO or PayNow-NRIC/FIN/UEN. 

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.

Tax refund cheques from IRAS should be deposited 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.

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

• For individuals/sole-proprietors: Singpass Login
• For companies: Corppass Login
• For taxpayers with no Singpass/Corppass: Authorisation Form for Telegraphic Transfer

If the requested currency is unavailable, you will receive the transfer in US dollars. You will have to bear any associated bank charges and possible losses from the exchange rate differences.

Please note that telegraphic transfers incur bank charges and may be subjected to exchange rate differences. For tax refunds below SGD100, they will not be processed but will be retained in your tax account to offset future tax liabilities. To receive refunds below SGD100, please contact us.

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, 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 contact us with the information below. Your request will be processed within 30 days.

1. Instruction for IRAS that you would like IRAS to refund your tax credit and the amount of tax credit to be refunded;
2. Your Full Name/Company's Name/Property Address;
3. Your Tax Reference number (e.g. NRIC/FIN/ROC/Property Tax reference);
4. Your Contact number; and
5. Your Email address

If you wish to retain your tax credit* to offset future taxes, please contact us with the information below: 

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.