30 January 2014

On 27 January 2014, the Inland Revenue Authority of Singapore (IRAS) published highlights of its response and follow-up actions in 2013 following suggestions and feedback from taxpayers. IRAS’s initiatives include:

• Removal of need for businesses to furnish ACRA Biz Profile when updating registered business address with effect from October 2013, following suggestions.
• Auto-application of owner-occupier property tax rates without requiring owners with only one residential property to apply for owner-occupier property tax rates, and allowing the owners to inform IRAS should the situation be otherwise. However, owners of multiple properties are still required to communicate their choice of property for IRAS to apply the owner-occupier property tax rates. This initiative was taken following feedback that it is a hassle to complete an application form for owner-occupier property tax rates and the suggestion to apply owner-occupier property tax rates based on property records with IRAS instead.
• Publication of a comprehensive e-Tax Guide “GST: Guide on Reimbursement and Disbursement of Expenses” in May 2013, with illustrations to provide clear guidance on how goods and services tax (GST) rules should be applied. This initiative was taken following feedback that GST rules on reimbursement and disbursement of expenses were not explained in detail and the request for examples to be given to guide businesses in better applying the rules to their scenarios.
• Making it easier for companies to determine their eligibility for Form C-S filing by implementing a Form C-S eligibility checklist, following feedback.
• Providing more examples of IT and automation equipment qualifying for Productivity and Innovation Credit (PIC) listed by industry on the IRAS web page on automation equipment qualifying for PIC, following suggestions.
• Providing more examples on expenses that can be deducted from rental income on the IRAS web page on rental expenses that are allowed or not allowed for deductions against the rental income, following suggestions.
• Enhancing the user interface of the Assisted Self-Help Kit (ASK) to make it easier for GST-registered businesses to use. Changes were also made to ASK working templates and declaration form on completing Annual Review & Voluntary Disclosure of Errors. In addition, a new e-Service was introduced to retrieve GST Returns/Assessment for ASK Annual Review. This initiative was taken following feedback that the ASK was not user-friendly with too many templates to complete.
• Improving the IRAS web page that explains the e-Filing of income tax with relevant links to information that will help e-Filers browse for relevant information when e-Filing the income tax, following suggestions.

For more information, please refer to the IRAS website.

Source: Inland Revenue Authority of Singapore