Personal Tax Submission Deadlines
Please file for your personal income taxes before 15 April of every year If you are doing paper filing Or 18 April of every year If you e-file
What happens if I am late for my Personal Taxes
In the event that you are late for personal tax filing, the following recovery actions will be taken by IRAS: Issue an estimated Notice of Assessment Impose a penalty for not filing Summon you to Court Issue a Warrant of Arrest Take legal actions where a penalty that may be twice the tax amount assessed […]
Cost-Benefit Analysis for GST Registration
In this article, you will learn some of the common considerations to take into account before deciding if voluntary GST registration is a sound decision for you and your business. Factors to Consider when deciding if you should Register Voluntarily Proper bookkeeping process in place to ensure timeliness of GST Return Filing Being GST […]
GST Obligations after Registration
In this article, you will learn of your obligations after GST registration Implementing GST Your business becomes a GST-registered entity from the Effective Date of Registration as specified in the approval letter. Under GST regulations, there are responsibilities that you need to fulfill. Charge GST for standard-rated supplies For supplies of goods and services made […]
What happens if I am late for GST Filing?
In this article, you will learn about what happens when you are late for payment or filing for your GST returns. Non/late submission of GST return IRAS may impose penalty of $200 per month for each month that the return remains outstanding (capped at $10,000 for each outstanding return). IRAS may issue an estimated assessment […]
