• Taxation

    Individual Income Tax Filing

Package

Individual Income Tax filing is mandatory for all residents to be submitted to the Inland Revenue Authority of Singapore (IRAS) by the stipulated deadline (usually by 15-April).

Our package is designed to assist you with the process of filling your Individual Income Tax Returns.

S$200

Per year / Per employee

Both “a la carte” and “packaged” pricings are available on demand to better fit with your evolving corporate needs.

Please note that we reserve the right to modify prices and relevant terms without prior notice – if deemed necessary by market conditions.

What is Included in this Package

Services Included (Yearly Basis):

  • 1-year Individual Income Tax Filing

Package Suitability

Legal Requirement

Individuals in Singapore must file income tax returns with the Inland Revenue Authority of Singapore (IRAS) if their annual income exceeds the taxable threshold.

The filing must be accurate, reporting all income, deductions, and reliefs, by the specified deadline to comply with tax regulations.

Process of Individual Income Tax Filing

In Singapore, individuals must file their income tax returns annually via the myTax Portal provided by the Inland Revenue Authority of Singapore (IRAS).

This involves reporting all income sources, claiming deductions and reliefs accurately, and submitting the necessary documents by the deadline. 

Penalties for Late Filing

If an individual in Singapore misses the deadline for filing their income tax returns, they may incur penalties such as late filing fees and additional taxes.

The penalties may increase depending on the length of the delay and the amount of tax owed. 

Commonly Asked Questions

Individual Tax Rates :

What are the Individual Tax Rates Singapore?

Annual Income (SG$) Tax Rate
Tax rate on 20,000 0%
Tax rate up to 30,000 2%
Tax rate up to 40,000 3.5%
Tax rate up to 80,000 7%
Tax rate up to 120,000 11.5%
Tax rate up to 160,000 15%
Tax rate on 200,000 18%
Tax rate up to 240,000 19%
Tax rate up to 280,000 19.5%
Tax rate up to 320,000 20%
Tax rate up to 500,000 22%
Tax rate on 1,000,000 23%
Tax rate above 1,000,000 24%
Tax rate on capital gains 0%
Tax rate on income earned overseas 0%
Tax rate on dividends received from Singapore company 0%

Regulation:

What are the legal requirements for Individual Income Tax Returns Filing in Singapore?

In Singapore, individuals are required by law to file their income tax returns annually with the Inland Revenue Authority of Singapore (IRAS) if they have earned taxable income during the year.

The filing process typically starts in March or April after the end of the tax year, and individuals must accurately report all sources of income, deductions, reliefs, and other relevant information in their tax return.

It’s crucial to ensure compliance with tax regulations, including the timely submission of documents and payments to avoid penalties or legal consequences.

Service Provider:

Advantages of using a service provider for the Filing of Individual Income Tax Returns in Singapore

Using a service provider for filing individual income tax returns in Singapore can offer several advantages.

  • Firstly, it ensures accuracy and compliance with tax regulations, reducing the risk of errors or omissions that could lead to penalties.
  • Additionally, service providers often have expertise in tax laws and can help individuals maximize tax deductions and reliefs, potentially reducing their tax liabilities.

INQUIRY FORM

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TAXATION 

(Individual Income Tax Filing)

Please complete the Inquiry Form below to receive tailored assistance for your business operations and corporate needs from BESO.

Our team of experienced advisors will promptly reach out to you.

Thank you for your interest!

BESO Corporate Services PTE LTD

hello@beso.sg

60 Paya Lebar Road, #07-54 Paya Lebar Square, Singapore 409051

+65 6303 4429

+65 9248 0866

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