The basics of personal income tax in Singapore

Last updated on 25 February 2022

All individuals residing in Singapore and earned more than S$22,000 income the previous year will need to file personal income tax returns. Self-employed individuals with a net profit of more than S$6,000 are also required to file tax returns for personal income tax. Individuals who are part of partnerships or are sole proprietors should take note as they are taxed at an individual level for their income derived from the partnership or business.

For non-residents who derived income in Singapore are required to file an income tax return regardless of the amount earned the previous year. Non-residents are defined as foreigners who resided less than 183 days in Singapore the previous year.

Generally, the deadline for filing personal income tax returns falls on 18 April for those who file electronically and 15 April for those who file a paper return. Individuals who need more time to file their income tax returns will need to request an extension from IRAS through the latter’s digital services on its website.

Individuals, particularly those who are part of partnerships or are sole proprietors, who are confused as to how to file their individual income tax returns may engage the services of a company that is able to provide professional services to support their payroll, tax filing and other compliance requirements.

As Singapore attempts to go paperless, IRAS encourages taxpayers to file their tax returns electronically. This needs to be carried out via the MyTax Portal on IRAS’ website using the individual’s SingPass.

At MetroCorp, we provide comprehensive solutions covering tax filing services, personal income tax services and accounting services in Singapore. Reach out to us to find out more about how we can support your businesses.