Our personal tax service for individual taxpayers include the following:
Upon receiving written confirmation from the individual and all relevant documents, we will prepare the draft personal tax computation and personal tax returns.
Upon receiving your final approval, we will assist to file the personal income tax return to IRAS.
All individuals is required to keep adequate records to support the income earned for the relevant year of assessment.
All records must be supported by original or scanned invoices, receipts and other evidential documents.
These supporting documents are required to be kept for five years.
Personal Income Tax (PIT) Rebate
For YA 2017, IRAS introduces PIT rebate of 20% of tax payable and capped at SGD 500.
In Singapore, collected taxes are used to develop the country into a robust, stable and dynamic economy.
Inland Revenue Authority of Singapore (IRAS) regulates the tax framework and administration in Singapore.
Income tax is levied on income earned by Singapore tax resident individuals.
All Singapore tax resident individuals must comply with Income Tax Act and file accurate tax returns annually.
An individual is deemed as a Tax Resident in Singapore for a specific YA if
1. the individual is a Singapore Citizen or a Singapore Permanent Resident who lives in Singapore;
2. the individual is a foreigner who work in Singapore (excludes those who are the director of a company) for 183 days or more.
Otherwise, the individual is treated as a Singapore non-resident for tax purposes.
Our experienced Personal Tax Service team is committed to helping Singapore taxpayers to manage personal tax issues efficiently.
Our tax team assist in filing up the tax forms (optimizing tax reliefs, deductible expenses and donations) and file the income tax returns to IRAS.
Our Personal tax services include:
1. Preparation of the individual's income tax returns;
2. Preparation of the tax computations for individuals, sole proprietors and partnerships;
3. Preparation of employees' tax returns (IR8A) and tax clearance (Form IR21 for non-citizen employees' cessation of employment);
4. Assist in attending to IRAS queries on individuals' tax matters;
5. Assist in applying to IRAS for voluntary disclosures of past tax errors; and
6. Provide advice on personal tax planning.
All money received (from employment, trade, business, profession, vocation, property, investments or other sources) earned in or derived from Singapore is subject to income tax (unless specifically deemed as non-taxable income in the Income Tax Act).
In most circumstances, overseas income received in Singapore are not taxable (which include the foreign sourced dividend, foreign branch profits and foreign service income).
Overseas income is taxable in Singapore when it is received through a Singapore Partnership or income from your employment overseas is part of the Singapore employment.
An individual can claim tax deductions for certain expenses (employment, business and other expenses – allowed under the Income Tax Act) incurred in earning the income.
Tax relief and rebates are available for deduction against taxable income for Singapore tax residents who meet the qualifying conditions.
To promote specific social and economic objectives, there are some tax reliefs and rebates for particular groups of taxpayers.
From YA 2017, the following are the progressive Resident Tax rates.
Your personal tax liability is dependent on the status of tax residency.
For foreign employees issued with a work pass (valid for at least one year), you will be treated as a tax resident upfront.
The non-resident employment income is taxed at a flat rate of 15% or similar to the above progressive Resident Tax rates (whichever give the higher tax amount).
From YA 2017, the non-residents' tax rates (for example, director's remuneration, professional fee, SRS withdrawal, property rental income and certain earnings) are revised from 20% to 22% to maintain parity between the non-resident tax rates and the resident individuals' top marginal tax rate.
Certain incomes (subject to conditions) are at reduced withholding tax rate of 10% to 15%.
All taxpayers are required to file their tax returns (income is assessed on the calendar year basis):
1. Electronic Filing – latest by 18 April
2. Paper Filing – latest by 15 April
Taxpayers must send in their application (before 31 March) through email, fax or post and include the following:
1. Full name as per NRIC or Passport;
2. Tax reference number;
3. Indicate clearly the reason(s) for the request; and
4. An Estimated Chargeable Income.
IRAS can take the following actions on individuals:
1. Levy a late filing fee;
2. Issue an Estimated Notice of Assessment (NOA);
3. Issue a summon to the Individual to attend Court on a specified date; and/or
4. Issue a Warrant of Arrest to the Individual.
We support all individual taxpayers in meeting their tax obligations and the computation of personal taxation.
For individual tax filing or advice or other personal tax-related matters, please feel free to reach out to us and our Personal Tax Service Team will contact you.