More taxpayers, including 15,000 first-time taxpayers, will benefit from the No-Filing Service (NFS) for this year’s tax filing season, starting 1 March 2014. 

For these 1.23 million taxpayers, or 60% of all taxpayers, tax filing will be a non-event.

First launched in 2007, the NFS has grown significantly over the years to benefit 27 times as many taxpayers this year, as illustrated in the following chart.

Taxpayers who have been informed of their eligibility for the NFS this year will not need to file a tax return, unless they have additional income to declare or changes to make to their personal reliefs. 

Taxpayers who are not on the NFS would have received a letter or SMS informing them to file via myTax.iras.gov.sg by 18 April 2014. They will have to file a tax return this year, even if their employers have sent their salary details to IRAS under the Auto-Inclusion Scheme for Employment Income. 

Taxpayers who are unsure whether they need to file a tax return this year can SMS filetax NRIC/FIN to 91164900 or call 1800-356 8300.

Enhancements to Benefit Small Businesses

Over the years, IRAS has continually made tax filing easier for businesses, especially SMEs. Business partners when filing the partnership income tax return at myTax.iras.gov.sg, will receive timely messages to remind them to inform their respective partners of their share of profits and tax filing obligations. 

To further improve accuracy in tax filing, myTax.iras.gov.sg will also remind businesses on the non-deductible business expenses, during the filing process. This minimises filing errors and saves time for them. 

Businesses with revenue of less than $500,000 will also be prompted by myTax.iras.gov.sg to not submit their Statement of Accounts (SOA). This reduces the number of documents that taxpayers have to send to IRAS.

IRAS has also introduced the new Simplified Record-Keeping (sRK) initiative to help small businesses lower their compliance costs. With sRK, eligible businesses only need to keep business records using the prescribed templates, and not the physical invoices and receipts. These templates make it easy for them to prepare their Statement of Accounts and income tax returns at the end of each year.

“These enhancements are part of IRAS’ efforts to bring convenience to taxpayers, improve their filing accuracy, and boost voluntary compliance.”

Mr Andy Seah
Assistant Commissioner
Individual Income Tax Division of IRAS

File Today at myTax.iras.gov.sg 

We would like to remind all taxpayers, including sole proprietors and partners, to file their income tax returns by 18 April 2014, or to send in their paper returns by 15 April 2014. Please file early to avoid the last-minute rush and late filing penalties.

Inland Revenue Authority of Singapore