Tax Reminder File Personal Income Tax Return by April 15

We wish to remind all Singapore resident and non-resident individuals who have earned income in Singapore during the 2011 calendar year that the deadline for filing personal income tax returns is April 15, 2012 for returns that are filed by mail and 18 April, 2012 for returns that are filed online.

Who needs to file a tax return?

If your annual income for 2011 is S$22,000 or more; or
If you have received a notification from the Singapore tax department either via a letter, form or SMS that you are required to file a tax return then you must compulsorily file your personal income tax return. This is regardless of whether your annual income for the year 2011 is < S$22,000 or whether or not your employer has included you as part of the auto-inclusion scheme for employment income.

What is the tax filing due date for 2012?

For returns that are sent to IRAS via snail mail: 15 April, 2012.
For returns that are filed online: 18 April, 2012.

Is there an alternative if you are unable to file tax returns by the due date?

If due to some reason you are unable to file your tax returns by the due date then you can apply for extension of due date for filing tax returns. However, your requisition for extension of due date must be sent to IRAS before 31 March, 2012. You will need to furnish details such as your full name, tax reference number, reason for extension, and an estimate of your chargeable income.

What if you do not file tax returns or file returns after the due date?

The Singapore authorities are very strict about tax filing deadlines and will not hesitate to enforce penalties against you for filing late or not filing your tax returns. IRAS can choose to:

Issue an estimated Notice of Assessment (you will have to pay the tax amount based on IRAS’ estimated Notice of Assessment within 30 days);
Impose a penalty for not filing;
Summon you to court;
Issue an arrest warrant against you; or
Take legal action against you where the penalty fee will be double the amount of tax that IRAS may assess for that particular YA in addition to a fine of up-to S$ 1,000. Failure to pay the penalty or fine can result in imprisonment.

How do you calculate your tax dues?

In order to arrive at your Singapore tax liability you will need to first determine your tax residency status (as tax rules differ for Singapore tax residents and non-residents), ascertain the amount of chargeable income (i.e the adjusted income after deductions from the total income) and then apply the progressive tax rate (that starts at 0% and ends at 20% for income above S$320,000) to it.

Note that you are liable to pay tax only on your income earned in Singapore including salary, bonuses, director fee, investment income, rental income, employee benefits, royalties, etc. Overseas income earned outside Singapore (barring few exceptions), Singapore dividends, capital gains, and bank interest are not subject to tax in Singapore.

For more details, please refer to our Singapore Personal Income Tax guide.