SINGAPORE: Ninety-six percent of taxpayers filed their tax returns on time this year, maintaining the record high set in 2016.
Also, about 770,000 taxpayers, or more than 97 percent of those who filed, did so electronically, the Inland Revenue Authority of Singapore (IRAS) said in a press release on Monday (April 24).
The deadline for paper filing tax returns was April 15, while e-filers had until April 18 to do so.
IRAS also revealed that 17 percent of e-filers did so using smartphones and tablets. It was one of the tax filing enhancements introduced last year.
As part of a newly piloted initiative, about 70,000 e-filers received their finalised tax bill (Notice of Assessment) immediately upon filing their tax returns.
Taxpayers on the Giro payment scheme will have their Giro instalment payment based on their actual tax payments instead of a provisional instalment plan, which gives them greater certainty on their tax payments.
IRAS aims to scale up this service initiative progressively.
Meanwhile, over 5,000 partnerships filed their business income by end February, allowing their partners to enjoy the convenience of having their partnership income pre-filled in their individual income returns.
With more than 10,000 taxpayers benefiting from this new service initiative, IRAS has invited all business partnerships to file earlier in 2018.
About 1.75 million taxpayers whose employers participated in the auto-Inclusion Scheme (AIS) enjoyed the convenience of pre-filled tax returns.
This scheme will be extended to employers with nine or more employees from 2018, according to IRAS.
IRAS added that most taxpayers should receive their tax bills – Notice of Assessment for the Year of Assessment 2017 – from end April to September this year.
Those who have updated their mobile numbers with IRAS will receive SMS alerts when their tax bills are finalised.
Taxpayers are encouraged to pay their taxes via Giro, so as to enjoy the option of paying in 12 monthly interest-free instalments or a one-time deduction.
Those who are not on the Giro payment plan must pay their taxes within one month from the date of the tax bill.
There is a late filing penalty of up to $1,000.
