Quick references on personal tax filing

FAQs

For Salaried Employees

1.1   What must I do if I am a salaried employee?
1.2   I am a foreigner and I am also a salaried employee. What else must I know and do for tax filing? 

For Self-Employed Individuals

1.3   What must I do if I am self-employed?
1.4   What is the minimum period for maintenance of business transactions?
1.5   I have employees. What must I do?
1.6   What must I do if my non-citizen employee ceases employment or plans to leave Singapore for more than 3 months?
1.7   Does withholding tax apply to individuals, including sole-proprietors and partners?

For Salaried Employees

1.1   What must I do if I am a salaried employee?

First, visit www.iras.gov.sg/IRASHome/Individuals/Locals/Getting-it-right/Other-Services/Tax-Filing-for-Employees-of-AIS-Employers/ to determine if your employer is on the AIS. Do note that all employers are required by law [S68(2) of the Income Tax Act] to prepare Form IR8A and Appendix 8A, Appendix 8B or Form IR8S (where applicable) by 1 Mar each year for all their employees who are employed in Singapore. Companies that are not on the Auto-Inclusion Scheme (AIS) will have to furnish the IR8A via hard copy to the employees.

Even if your employer is on the AIS, you are still required to check the pre-filled income and file your completed tax return (Form IR8A). If you have other income such as rental income to declare or if you want to indicate your claims for personal reliefs (where applicable), you have to declare it in your tax return as well.

If you have received a letter or SMS from IRAS notifying you of your selection for No-Filing Service (NFS), you will still need to file your income tax if you have additional income to declare or changes to make to your personal reliefs. You can do so online at myTax.iras.gov.sg 

We can assist with your income tax returns and checking of reliefs.

1.2   I am a foreigner and I am also a salaried employee. What else must I know and do for tax filing?

First, you have to note that the amount of income tax you have to pay depends on your tax residency status in Singapore. You are considered a tax resident for the year if you:

1. have stayed or worked for at least 183 days in a calendar year or for a continuous period of over 2 years; or
2. have stayed or worked for 3 consecutive years continuously; or
3. have been issued a work pass that is valid for a year (treated as tax resident upfront).

For further information on income tax and tax residency status, visit IRAS website at www.iras.gov.sg/IRASHome/Individuals/Foreigners/Learning-the-basics/Basic-Guide-for-New-Individual-Taxpayers--Foreigners-/ 

Next, you have to file an Income Tax Return if you have received a letter, form or an SMS from IRAS informing you to do so. If you are resident in Singapore, you can e-File your completed tax form from 1 Mar to 18 Apr every year. If you intend to paper file, please submit your completed tax form by 15 Apr of each year.

We can assist you in the preparation of your income tax returns and checking for applicable tax reliefs, including checking for special tax schemes such as Area Representative Scheme (ARS) and Supplementary Retirement Scheme (SRS).

For Self-Employed Individual

1.3 What must I do if I am self-employed?

Sole-proprietors and partners registered with the Accounting and Corporate Regulatory Authority (ACRA) are self-employed and have to prepare statement of accounts so that their business income and expenses can be readily determined. The statement of accounts must include:

1. Revenue
2. Gross Profit/Loss
3. Allowable Business Expenses
4. Adjusted Profit/Loss

All income and commission earned has to be reported as trade income under ""Trade, Business, Profession or Vocation” in Form B1.

1.4 What is the minimum period for maintenance of business transactions?

You have to maintain a proper system to keep records of your business transactions.

Businesses have to maintain a proper system to keep records of business transaction for at least 5 years from the relevant Year of Assessment. Records have to be readily available upon IRAS' request.

Examples of documents to be kept as business records are:

1. Source documents (e.g. invoices, receipts and vouchers)
2. Accounting records and supporting schedules
3. Bank statements and bank deposit slips
4. Other business transaction records

We can assist individuals who are sole-proprietors or partners to prepare the statement of accounts (including profit & loss & balance sheet), Form IR8A and Capital Allowances for filing with IRAS.

1.5 I have employees. What must I do?

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 1.6 What must I do if my non-citizen employee ceases employment or plans to leave Singapore for more than 3 months?

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We can assist you with the preparation of Returns of Employees Remunerations (Form IR8A) and Tax Clearance (Form IR21).

1.7 Does withholding tax apply to individuals, including sole-proprietors and partners?

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