Quick Guide: Singapore Corporate Capital Gains Tax
Singapore Corporate Tax season 2020 is now underway and companies are required to e-file their Corporate Income Tax Returns for YA2020 before 15 December 2020. All Singapore Companies are required to file annual income tax returns online to the Inland Revenue Authority of Singapore (IRAS) and pay income tax at the prevailing Singapore corporate tax…
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Quick Guide: Tax Deductions for Work-from-Home Expenses
Earlier this month, the Inland Revenue Authority of Singapore (IRAS) has announced individuals may claim certain tax deductions on expenses incurred while performing work duties from home. With circuit breaker rules progressively lifted, and as part of Singapore’s phase one reopening measures, many employees are starting to return to their regular work environments however the…
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Quick Guide: IRAS Auto-Inclusion Scheme (AIS) for Employers
The Auto Inclusion Scheme (AIS) is a tax scheme geared towards Singapore employers and administered by the Internal Revenue Authority of Singapore (IRAS). It allows employers to submit the income tax information of their employees electronically. The purpose of this scheme is to facilitate the calculation of income taxes for employees in Singapore by including…
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How to Pay Income Tax in Singapore for Nationals and Foreigners
Many local accountants are frequently questioned about the process of paying income tax in Singapore. By law, all individuals who receive income from their activities in Singapore must file and pay their taxes to the Inland Revenue Authority of Singapore (IRAS), unless they qualify for an exemption. The following two situations may exempt someone from…
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Tax Dept
Safety Measures for IRAS Income Tax Filing YA2020
The Singapore tax season traditionally starts in March to April when annual tax filing begins for both nationals and foreigners. However, the recent health emergency triggered by the coronavirus outbreak has caused changes to deadlines and affected this year’s tax payments, filing procedures, and schedules. In this regard, the Inland Revenue Authority of Singapore (IRAS)…
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