5 March 2013

Taxpayers, including sole proprietors and partners, are reminded that their income tax returns need to be filed by 18 April 2013 (online) or 15 April 2013(for paper returns) unless they have been informed by the IRAS of their eligibility for No-Filing Service (NFS).

Taxpayers eligible for NFS this year will not need to file a tax return, unless they have additional income to declare or changes to make to their personal reliefs.

As announced in the 2013 Budget Speech, all individuals who are tax resident in Singapore will enjoy a personal income tax rebate of 30% (if aged below 60 years) and 50% (if aged 60 years and above) for the Year of Assessment 2013. This rebate will be applied automatically to the eligible taxpayer’s tax bill.

Source: This article was extracted from the Inland Revenue Authority of Singapore (IRAS) website. Visit http://www.iras.gov.sg for more information.