Many happier tax returns

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http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_346782.html

Many happier tax returns
By Cheryl Ong

PUBLIC servant Paul Lee will be doing nothing this April to file his income tax return because he has registered for the No-Filing Service.
Almost half-a-million people have registered for the service, ensuring their income details for the 2008 financial year has already been sent to Inland Revenue Authority of Singapore (Iras).

The service receives salary information from employers who submit the data to the Iras under the Auto-Inclusion Scheme.

To use the service, taxpayers must have a regular auto-included income that does not cover earnings from rents or freelance jobs. They must also not make any changes to their tax relief claims.

Taxpayers using the service this year make up one-third of the 1.55 million people in Singapore who need to file their tax returns by April 18, compared to 332,000 who used the system last year.

Iras said more people were included in the service this year because more employers - 8,500 from 6,300 in 2008 - submitted their employees' salary information, thanks to a simpler tax filing system.

Mr Lee said he is relieved that he will not have to keep track of deadlines during the tax-filing season as he has been given warning letters - twice - for filing his taxes late.

'It's good for those who are a little lazy with filing their taxes,' Mr Lee said.

 

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http://www.channelnewsasia.com/stories/singaporelocalnews/view/413517/1/.html

Some 493,000 taxpayers need not file income tax returns
By Hasnita A Majid, Channel NewsAsia | Posted: 06 March 2009 1617 hrs

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SINGAPORE: Some 493,000 taxpayers need not file their income tax returns this year under the No-Filing Service.

Instead, they will receive Notices of Assessment from the Inland Revenue Authority of Singapore (IRAS) directly. For those who pay their taxes by GIRO instalments, it means no action is required from them at all.

The No-Filing Service was introduced in 2007 to about 45,000 taxpayers. It was extended to about 332,000 taxpayers last year.

These are taxpayers who only have auto-included income and who claim the standard tax relief items.

They do not need to file tax returns unless they have other means of income that have not been auto-included – such as from rental or freelancing – or if they have changes to make to their tax relief claims.


- CNA/so