Compliance Alert for all Asiabiz clients
This is a reminder for submission of Personal Income Tax Return for the Year of Assessment 2010. All income earned in Singapore from 1 January 2009 to 31 December 2009.
Who must file personal tax return?
- If you are an EP/PEP/Entrepass holder (Even if you have not taken salary, but have declared to MOM in order to secure your employment pass),
- If your annual income in Singapore in 2009 is above S$22,000,
- If you have received communication from Inland Revenue Authority of Singapore (IRAS) requesting you to file personal income tax,
- If you are in receipt of Singapore dividend income in the year 2009 and wish to claim for the tax deducted at source.
Deadline for Submitting Personal Income Tax Returns
You are required to e-file or mail your personal income tax return form to IRAS by 15 April 2010. If you need an extension of time to submit your income tax return, you must notify IRAS by stating the reason and an estimate of your chargeable income. Request for filing extension is subject to approval from IRAS.
Consequences of Failure to Submit Personal Income Tax Returns
It is mandatory by law to file for the annual tax return. If you do not file your income tax return by 15 April 2010 and have not applied for an extension, the consequences may include one of the following:
- Letter of Composition;
- Summons; and/or
- Warrant of Arrest.
How to proceed?
Asiabiz Services can assist you in your personal income tax filings. Our personal tax filing services include:
- Registration for new tax payers
- Preparation and filing of income tax return based on your income and determination of possible deductions and reliefs that are applicable to you
- Request for extension of deadline, if necessary
- Preparation of Form IR8A for employees
- Tax planning and tax advice
If you would like us to assist you with your personal income tax return, please contact us at +65 – 6303 4617 (Nush) or HP: +65 – 9221 9221 or send us an email at ptax@asiabizservices.com.
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