SINGAPORE: More taxpayers will have their income pre-filled on returns or will benefit from the No-Filing Service this tax filing year, the Inland Revenue Authority of Singapore has said.
Filing a tax return will be easier for 65,000 individual commission earners (for example, real estate and insurance agents) as IRAS will pre-fill the commission information for the first time on the myTax website this year. A total of 110 commission-paying companies have joined the e-Submission of Commission Income Scheme, involving the electronic submission to IRAS of information on commissions paid to individuals.
Around 1.7m taxpayers will continue to enjoy the convenience of pre-filled employment income information on their online returns. The pre-filling of employment income has been available to taxpayers since the introduction of the Auto-Inclusion Scheme (AIS) for Employment Income. Under the AIS, employers send the salary information of their employees to IRAS electronically. Employers with 12 or more employees are now signed up to this scheme.
In addition, a total of 1.31m (or three in five) taxpayers, including 26,000 first-time taxpayers, will benefit from the NFS for this year’s tax season.
Taxpayers who have been informed of their eligibility for the NFS this year will not need to file a tax return. For NFS taxpayers who have no changes to the pre-filled income and tax reliefs in their online tax returns, most of them will be able to preview their tax bill and request early assessment from March 1, 2015.
Taxpayers who are not on the NFS will have to file a tax return this year, even if their employers have sent their salary details to IRAS under the AIS. All those taxpayers, including sole proprietors and partners, should file their income tax returns online by April 18, 2015, or send in their paper returns by April 15, 2015.
