All income earned in Singapore is subject to tax. The business must pay tax on the profit of the company. An individual who receive any income from a job, business, investment, or asset in Singapore and earned more than S$22,000 have to pay their individual income tax every year. The tax you need to pay depends on your income and deductions.

IRAS offers various tax payment options such as General Interbank Recurring Order (Giro), Electronic payments modes, Credit card or Telegraphic Transfer. Majority of taxpayers using Giro. Giro taxes may be settled in 12 consecutive interest-free monthly instalments or a one-time yearly deduction. Application for this payment method is available via the IRAS online portal.

Q:	Individual how to pay income tax in Singapore?
A:	You must file an Income Tax Return if you receive a letter, form or an SMS from IRAS informing you to do so. It does not matter how much you earned in the previous year or whether your employer is participating in the Auto-Inclusion Scheme (AIS) for Employment income. File income tax by using the IRAS “MyTax online portal using SingPass. If you receive a letter or SMS informing you that you have been selected for No-Filling Services (NFS), you are not required to file a tax return. Please note that it is your responsibility to ensure that your Notice of Assessment (NOA) is accurate. If you have any other income that is not shown in the NOA, or your relief claims in the NOA are incorrect, you have to inform IRAS within 30 days from the date of your NOA. IRAS also permits authorized tax agents to file tax returns on their client’s behalf. The authority launched an initiative to allow individual taxpayers to authorize their tax agents to access their myTax Portal account via an Authorisation Code.
Q:	Company how to pay income tax in Singapore?
A:	Before you can e-File your tax return, you must be authorized by the company to act for its corporate tax matter via CorpPass. From YA2021, all companies will be required to e-File their Corporate Income Tax Returns by 30 Nov 2021. “Form C-S” In line with compulsory e-Filing, the downloadable Form C-S will not be available on the IRAS website. Qualifying companies may e-File form C-S via myTax Portal. “Form C” The Form C (Upload) will no longer be available from YA 2021. You are strongly encouraged to start filing the Form C using the Online Form C now. Companies/ tax agents who need to present the completed Form C to relevant personnel/ clients prior to submitting the Form C to IRAS may utilise the “Save Draft” function and print out the completed Form C at the “Confirmation Page”. Paper submissions of the YA 2020 Form C (Upload) will no longer be accepted. Otherwise, you need to declare all taxable dividends in your income tax return under “Other income”.
Q:	How do companies pay for income tax?
A:	Tax assessed on Form C-S/C filed must be paid within one month from the date of the NOA. If you do not agree with the tax assessment raised by IRAS, please file an objection within two months from the date of the NOA to have your tax assessment reviewed and revised. The objection may be filed via the “Revise/Object to Assessment” e-Service at myTax portal. There is no need for you to submit a claim for refund as tax credits are automatically refunded within 30days from the date the credit arose. Companies which pay taxes through GIRO arrangements will receive their refund through cheques. Please deposit the cheque into the bank account immediately as it is only valid for three months from the date of issuance.