On or about 28 Feb 2022, the Inland Revenue Authority of Singapore (IRAS) has issued a media release on its website to tax season 2022 – No filing of tax returns for 7 in 10 taxpayers.
IRAS reported that 7 in 10 taxpayers (or more than 1.6 million of 2.3 million taxpayers) are eligible for the No-Filing Service (NFS) this Year of Assessment. The IRAS also be rolling out initiatives to simplify the tax filing experience.
More taxpayers will receive direct tax bills in place of filing notices, skipping the tax filing process altogether.
More partnerships will also experience easier filing with a 2-line statement for a revenue of up to $200,000.
Taxpayers are encouraged to sign up for GIRO to pay their taxes and receive tax refunds safely and seamlessly.
IRAS will also be introducing PayNow as an alternative tax refund mode for taxpayers who are not on GIRO.