The Inland Revenue Authority of Singapore (IRAS) announced that the overall on-time filing rate this year remained high at 95% and thanks taxpayers for filing on time.

“We are most appreciative that taxpayers took the time to submit their returns on time,” says Andy Seah, Assistant Commissioner, Individual Income Tax Division of IRAS. “IRAS is continually improving our systems and processes, to make tax filing simpler and even friendlier for individuals.”

The 95% high overall on-time filing rate was achieved for the third year running this year (Figure 1). More than 97% of all income tax returns were submitted online. Around 1.31 million taxpayers, including 26,000 first-time taxpayers, benefited from the No-Filing Service. 

 Figure 1: On-Time Filing Rate of Tax Returns

GIRO for a Seamless Payment Experience

IRAS will issue the Notices of Assessment (NOAs) to taxpayers from May 2015 onwards. Those who are not on GIRO are required to pay their taxes within one month from the date of the NOA. Taxpayers who choose to pay their taxes by GIRO would enjoy the flexibility and convenience of paying over 12 monthly interest-free instalments or a one-time deduction. To join GIRO, all it takes is a one-time sign-up through any of the following channels:

• Via Internet Banking (for DBS/POSB, OCBC and UOB customers)
• Via an AXS station (for DBS/POSB customers)
• Via IRAS website - Download GIRO application form and send the completed form to 55 Newton Road, Revenue House, Singapore 307987

  
Late Filing Penalty

Individual taxpayers who have not filed their returns should do so immediately. A penalty of up to $1,000 will be imposed for late filing. Those who require assistance can call our helpline 1800-356 8300 during office hours or email IRAS via www.iras.gov.sg (Contact Info > Email Us).

Inland Revenue Authority of Singapore