How to Pay Income Tax in Singapore

In Singapore, income tax is based on the progressive system. You may find out and learn about how to pay income tax in Singapore here in this article.

The rules of individual’s income tax liability in Singapore differ based on your residential status. As it adopts progressive structure, it also depends on the amount of your income to determine your applicable tax rate.

What You Need to Know About Singapore Income Tax

There are several key points that you should know about individual’s income tax in Singapore:

• As mentioned above, it follows the progressive tax rate, which is ranging from 0%-22%.
• It recognizes no tax for inherited wealth or capital gain.
• It only subjects you with the tax if you earn income in Singapore. Individuals who earned income by working abroad are not subjected to taxation (with several exceptions only).
• It has several rules based on the residency status of each individual.
• It has to be filed annually on April 15, where taxpayers file their income tax with the basis of the previous year.

When to File Income Tax

Every single of eligible taxpayer is required to file their tax return in Singapore each year. The complete tax form should be submitted to the authority of tax in Singapore by April 15.

Individuals who pose Singaporean residency earned any less than S$22,000 annually are not considered as eligible taxpayer. However, they are still obligated to file the tax returns if required by the tax authority.

Even for the individuals who did not earn income at all from the prior year are required to inform their zero income through the applicable form and submitted by April 15 (by printed form) or April 18 (by e-filling). Otherwise, individuals who earned more than S$22,000 annually have to file their tax return.

Pay Income Tax IRAS via DBS ATM

To make payment at an DBS ATM, you need the Payment Slip that is issued with your Tax Bill.

1. Insert card in card slot.
2. Enter PIN.
3. Select More Services.
4. Select Credit Card/Bill Payment.
5. Select 4 for IRAS-Others-Pymt Slip.
6. Enter the 14 digits Payment Slip Number as the Bill Reference Number.
7. Select bank account to pay from.
8. Enter the Amount to pay.

Pay Income Tax IRAS via OCBC ATM

To make payment at an OCBC ATM, you need the Payment Slip that is issued with your Tax Bill.

1. Insert card in card slot.
2. Select Language.
3. Enter PIN.
4. Select More Services.
5. Select Bill Payment.
6. Select Other Bill Payments.
7. Select Account Type.
8. Enter the 14 digits Payment Slip Number as the Bill Reference Number.
9. Select bank account to pay from.
10. Enter the Amount to pay.
11. Enter 6-digits billing code and confirm transaction

Pay Income Tax IRAS Online Using DBS

You may use DBS or OCBC online banking to pay with your Tax Reference number.

1. Login to DBS internet banking.
2. Go to Pay > Select More Payment Services.
3. Under Manage Payments & GIRO > Select Add Billing Organisation.
4. Input iBanking OTP when prompted.
5. Add Billing Organisation page.
6. Billing Organisation > Select IRAS-INCOME TAX (TAX REF NO.
7. Bill Reference > Enter Tax Reference Number (NRIC or FIN number).
8. From Account > Select the Payment Account. Click Next.
9. Verify details are correct > Click Submit.
10. Go to Pay > Click Pay Bills.
11. Pay Bills page.
12. Select Payment Option > Select Billing Organisation in my pre-arranged list.
13. Select Pre-arranged Billing Organisation.
14. Select IRAS-INCOME TAX (TAX REF NO.).
15.  Input Payment Amount.
16.  Input Payment Date.
17. Click Next.
18. Verify payment details are correct > Click Submit.

IRAS Bank account details are as follows:

Tax Type	All except Stamp Duty	Stamp Duty
Payee	Commissioner of Inland Revenue	Commissioner of Stamp Duties
Account Type	DBS Current Account	DBS Current Account
Account No	0010468669	0010468600
DBS Swift Code	DBSSSGSG	DBSSSGSG
DBS Bank Code	7171	7171
Bank's Address	12 Marina Boulevard DBS Asia Central Marina Bay Financial Centre Tower 3 Singapore 018982	12 Marina Boulevard DBS Asia Central Marina Bay Financial Centre Tower 3 Singapore 018982

How to File Your Income Tax in Singapore

Here’s a step-by-step guide on how to pay income tax in Singapore:

1. Decide if you want to file tax returns via mail or online. You will be sent the tax form through mailing by IRAS by the first option. Alternatively, you may fill the online form which available from March 1 each year.
2. Complete your income tax form accordingly:

• Use Form B1 for Singapore residents
• Use Form B for self-employed persons
• Use Form M for non-Singapore residents

3. File the tax form and wait until you receive tax bill or Notice of Assessment on following months. This document will state the amount of tax you’re subjected to.

Note: You may contact the tax authority of Singapore if you have objection related to the tax amount by stating the reasons. It must be done within 30 days since the document’s date.

4. Pay the indicated amount of income tax you’re subjected to within 30 days.

Note: This must be done whether you file objection upon the tax amount or not. You may be imposed with penalties if you fail to pay within 30 days.

To calculate your individual amount of income tax, you may use tax calculator. This tool is available on the official IRAS website for residents and non-residents.