Individual Tax Compliance
BTA assists individuals with Singapore income tax matters, based on their income sources, tax residency and filing requirements. We review eligible expenses, reliefs and deductions using the supporting records and current IRAS rules.
Filing deadlines and common mistakes
Check whether IRAS requires you to file, or has placed you under the No-Filing Service. The standard individual filing deadline is 18 April for both electronic and paper returns, unless IRAS has granted an extension or specified another date. Check the notice for the relevant Year of Assessment.
Common mistakes include incomplete business income, unsupported relief or expense claims, incorrect CPF figures and missing requested documents. Review pre-filled information and correct errors through the applicable IRAS service promptly.
An inaccurate filling, regardless if it is intentional, may result in penalties, fines, and imprisonment under the Income Tax Act
Filing inaccurately with no intention to evade tax may cause the taxpayer to:
- Face a penalty of up to 200% of the amount of tax undercharged;
- Be fined up to $5000; and/or;
- Be imprisoned up to three years;
Filing inaccurately with the intention to evade tax may result in more serious charges and the taxpayer may:
- Face a penalty of up to 400% of the amount of tax undercharged;
- Fined up to $50000; and/or;
- Be imprisoned up to five years;
What BTA does
- Review income sources and supporting records.
- Assess eligible deductions and reliefs based on your circumstances.
- Prepare computations and relevant schedules.
- Support filing of the appropriate individual income tax return.
- Monitor agreed deadlines and help respond to IRAS queries.
