Corporate Income Tax

How GIRO works

Date of Deduction*

Every 6th of the month. If failed, the second deduction will be done on 20^th of the month.

GIRO arrangement will be cancelled if deductions are failed on both dates (6^thand 20^th).

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/ Manage GIRO 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

Notes

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.

e-File the company's ECI by the 26^th of the first, second or third month from the company's financial year end to enjoy the 10, 8, and 6 instalments respectively.

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

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 Corporate 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/ Manage GIRO 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 "Continue".

5. You will be redirected to log in to your Corporate Internet Banking Portal. Select your bank account and submit your eGIRO application.

6. Upon successful submission at the Corporate Internet Banking Portal, you need to return back to myTax Portal to complete the eGIRO application.

Steps for Approver to authorise the eGIRO application:

[To approve the application within 48 hours as the application will be lapsed after 48 hours; and outside IRAS system's weekly maintenance hours (2am to 6am on Wednesday, and 2am to 8:30am on Sunday).]

1. Log in to your Corporate Internet Banking Portal.

2. Authorise the eGIRO application.

After IRAS receives the approval from the bank, you can view your GIRO plan for the outstanding tax balance(if any) via "Account" > "View GIRO 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

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.

(1) Companies

Sign up for GIRO using your own bank account. Your GIRO arrangement will be set up for tax payments and IRAS will automatically refund tax credits to your bank account.

If you are using a 3rd party bank account to sign up for GIRO, your GIRO arrangement will be set up for tax payments only. Should there be any tax credit, it shall be refunded via PayNow-UEN under your name if you have successfully registered for it.

Download Corporate Tax GIRO Application Form.

(2) Clubs & Associations
Please use your own bank account when signing up for GIRO. Your GIRO arrangement will be set up for tax payments and IRAS will automatically refund tax credits to your bank account.

Download Clubs & Associations GIRO Application Form.

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 GIRO plan details (Select “Account”> “View GIRO Plan”).

For GIRO applications received after the 20^th 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/ Manage GIRO Plan”).

Upon successful re-activation, you may log in to myTax Portal to view your GIRO plan details (Select "Account" > “View GIRO Plan”).

Make changes to GIRO arrangement

Changing my GIRO arrangement to another bank account

You can log in to myTax Portal to change your bank account (DBS/POSB, OCBC, UOB, Bank of China or Maybank customers) (Select “Account” > “Apply/ Manage GIRO Plan” > New eGIRO arrangement) [refer to Apply for eGIRO].

If you are not a customer of DBS/POSB, OCBC, UOB, Bank of China or Maybank, you will have to submit a new GIRO application (refer to Apply for GIRO with other banks).

If you want to use a bank account that has been used for GIRO with IRAS, you can log in to myTax Portal to cancel your GIRO plan (Select "Account" > "View GIRO Plan” > Cancel GIRO Plan), re-activate your GIRO (Select "Account" > "Apply/ Manage GIRO Plan" > Re-activate GIRO arrangement).

Your existing GIRO arrangement will be cancelled and replaced by the new GIRO arrangement 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 GIRO plan. Alternatively, you may also log in to myTax Portal to view your GIRO plan details (Select "Account" > "View GIRO Plan").

Edit my GIRO plan or Change my Plan Type

If you wish to edit the duration of your GIRO plan or change your plan type:

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 GIRO Plan” > Cancel GIRO Plan), re-activate your GIRO (Select "Account" > "Apply/ Manage GIRO Plan" > Re-activate GIRO arrangement) and edit your GIRO plan and/or select your preferred plan type.

Cancel / Terminate my GIRO Arrangement

If you wish to cancel your existing GIRO arrangement with IRAS, please log in to myTax Portal (Select "Account" > "View GIRO Plan" > View > Cancel 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. Once your GIRO arrangement has been terminated, you will have to apply for a new GIRO arrangement for future tax payments (refer to Apply for eGIRO).

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 and make payment via Pay Taxes (Select “Account” > “Pay Taxes”).