SINGAPORE: A total of 96 per cent of taxpayers filed their tax returns on time this year - maintaining the record high set last year, according to the Inland Revenue Authority of Singapore (IRAS).
In a media release on Monday (Apr 24), IRAS said more than 97 per cent of those who have filed their tax returns did so electronically. Additionally, about 17 per cent of taxpayers accessed the myTax portal to file their returns using smartphones and tablets, an initiative introduced last year.
"This year, about 70,000 e-filers received their finalised tax bill (Notice of Assessment) immediately upon filing their tax returns. With this newly piloted initiative, they were informed of their tax payable for the Year of Assessment (YA) immediately," the agency said.
As for taxpayers on the GIRO payment scheme, their instalment payments will be based on actual tax payable instead of a provisional instalment plan, IRAS said, adding that it aims to widen the reach of this initiative progressively.
Under another new service initiative, more than 5,000 partnerships filed their business income by the end of February this year. As a result, the partners will have their partnership income pre-filled in their individual income tax returns by IRAS.
From 2018, employers with nine or more employees will be able to participate in the Auto-Inclusion Scheme (AIS) for employment income. This year, about 1.75 million taxpayers will receive pre-filled tax returns under this scheme. The authority added that it welcomes employers with fewer than nine employees to take part in the scheme as well.
Additionally, IRAS reminded taxpayers who have yet to file their returns to do so immediately, as there is a late filing penalty of up to S$1,000. Assistance is available on IRAS' website, or at 1800-356-8300.
Most taxpayers should receive their tax bills for YA 2017 from end-April to September this year, IRAS added.
"Taxpayers should check their tax bills once they receive it. If the tax bill is incorrect, they should inform IRAS within 30 days via the 'Object to Assessment' e-Service at myTax Portal," it said.