Income Tax & IRAS

Finance

The Inland Revenue Authority of Singapore collects personal and corporate income tax. Individuals are taxed on income earned in Singapore using progressive rates, meaning higher chargeable income is taxed at higher rates, with the first tier taxed at zero. Tax residents can claim reliefs and deductions that lower their chargeable income. Filing is done annually, usually around March to April, and many employees have their income auto-included by employers. IRAS issues a Notice of Assessment showing tax payable, which can be paid in instalments via GIRO. Rates, reliefs and filing deadlines are subject to the latest rules.

Income Tax & IRAS

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