Stay organized with the various tax deadlines in Singapore. This guide outlines essential filing dates, entities required to file, submission methods, and tips for ensuring compliance with the Inland Revenue Authority of Singapore (IRAS).
Important Tax Filing Dates
Businesses in Singapore must adhere to a range of tax deadlines throughout the year, particularly those set by the IRAS. Here are key dates to keep in mind:
|
Date |
Tax |
Submission/Payment Method |
|
31 January |
Property Tax |
Forms for development sites or non-residential properties via IRAS Portal |
|
1 March |
Auto Inclusion Scheme |
Payroll software API or AIS page on the myTax Portal |
|
1 March |
Submission of Commission |
API or Commission page on the myTax Portal |
|
31 March |
Corporate Income Tax – Estimated Chargeable Income |
ECI Form on the myTax Portal |
|
31 March |
Common Reporting Standard Registration |
CRS page on the IRAS portal |
|
15 April & 18 April |
Individual & Partnership Income Tax Return |
Paper (15 April) or myTax Portal (18 April) |
|
30 April |
Goods and Services Tax |
GST F5 on the myTax Portal |
|
31 July |
Goods and Services Tax |
GST F5 on the myTax Portal |
|
31 October |
Goods and Services Tax |
GST F5 on the myTax Portal |
|
31 January |
Goods and Services Tax |
GST F5 on the myTax Portal |
|
31 May |
Foreign Account Tax Compliance Act (FATCA) Filing |
FATCA Form on the myTax Portal |
|
30 November |
Corporate Income Tax Return |
Form C-S/Form C-S (Lite)/Form C on the myTax Portal |
|
End of every month |
Withholding Tax |
S45 on the myTax Portal |
Entities Required to File Taxes
Different entities are required to file taxes based on specific criteria, such as property ownership, company size, and employee count. Here’s a breakdown:
|
Tax |
Entities |
|
Property Tax |
Commercial and industrial properties, non-owner occupier, concessionary owner-occupier |
|
Auto Inclusion Scheme |
Any business with 5 or more employees |
|
Submission of Commission |
All companies registered to accept commission; new companies must submit registration by 30 September |
|
Corporate Income Tax – Estimated Chargeable Income |
All businesses incorporated in Singapore |
|
Common Reporting Standard Registration |
All depository institutions, specified insurance companies, investment entities and custodial institutions that are tax residents in Singapore or Singapore branches of non-resident institutions |
|
Individual & Partnership Income Tax Return |
Individuals with income over SGD 22,000, self-employed individuals with net profit over SGD 6,000, non-residents earning income in Singapore |
|
Goods and Services Tax |
Businesses with turnover exceeding SGD 1 million |
|
Foreign Account Tax Compliance Act (FATCA) Filing |
All Reporting Singaporean Financial Institutions (SGFIs) |
|
Corporate Income Tax Returns |
Form C-S (Lite) for businesses with annual revenue of SGD 200,000 or below; Form C-S for annual revenue of SGD 5 million or below; Form C for all companies |
|
Withholding Tax |
Any company making payments to non-residents, directors, suppliers, and employees |
How to Submit Your Taxes
Tax submissions in Singapore are primarily conducted online via the myTax Portal. To use the portal, you’ll need to register for a SingPass and CorpPass. The CorpPass allows businesses to authorize employees and third parties (like tax intermediaries) to perform online transactions with government agencies.
Required Forms for Submission
|
Tax |
Forms |
|
Auto Inclusion Scheme |
Form IR8A for all employees; Appendix 8A for benefits-in-kind; Appendix 8B for stock options or ESOW plans; Form IR8S for overpayments |
|
Submission of Commission |
Submit an Excel spreadsheet using the provided template |
|
Common Reporting Standard Registration |
Complete the online form on the IRAS website |
|
Individual & Partnership Income Tax Return |
Tax resident individuals: Form B1, Appendices 1 and 2; Self-employed: Form B, Appendices 1 and 2; Non-residents: Form M, Appendix |
|
Foreign Account Tax Compliance Act (FATCA) Filing |
XML or fillable PDF form on the myTax Portal |
Payments are typically made during the filing process through e-GIRO transfers.
Conclusion
Staying on top of tax deadlines is crucial for compliance. Utilizing the myTax Portal can simplify the filing process, but ensure you have all the necessary information ready to avoid penalties. If you believe the IRAS has incorrectly calculated your taxes, you can file an appeal through the online tax portal.
While handling tax compliance in-house is possible, consider outsourcing your tax filings to a qualified tax advisor or consulting firm for additional support.
