This year’s Singapore’s tax filing season for individual taxpayers which ended on April 18 had achieved a high of 95% of taxpayers having filed on time for the third consecutive year, thanks to IRAS for continually improving their systems and processes, to make tax filing simpler and friendlier for individuals.
What is notable is that more than 97% of all income tax returns were submitted online via myTax Portal. It is definitely more convenient and easier to file your tax return this way than to submit a paper return. You just need your Singpass and internet access and you can do it 24/7 in the comfort of your home or anywhere.
Furthermore, taxpayers can also sign up for a GIRO instalment plan and enjoy the flexibility and convenience of paying over 12 monthly interest-free instalments or a one-time deduction. This way, taxpayers need not worry about cash flows since they can opt to pay their taxes in 12 equal monthly instalments.
So no more reason for you to file your taxes late any more! Still, got some queries? Contact a tax expert in Singapore!
