Singapore’s Inland Revenue Authority (IRAS) has significantly expanded its eGIRO online application service, now enabling corporate taxpayers to enrol digitally for automated tax payments via the myTax Portal. This enhancement streamlines payment processes for businesses and aligns corporate access with existing individual taxpayer capabilities.
Key Enhancements:
- Corporate Access: Companies holding accounts with participating banks can now apply online for eGIRO to cover income tax, GST, property tax, and withholding tax payments.
- Bank Participation: The network has expanded to 5 participating banks for corporates (previously unavailable) and 7 banks for individuals (up from 2).
- Digital Efficiency: Applications are fully digital—eliminating manual bank detail entry, physical forms, and wet-ink signatures.
- Real-Time Confirmation: Applicants receive enrolment confirmation within minutes and can track application status via the portal.
Previously, only individual taxpayers could apply for eGIRO online. The inclusion of corporates and broader banking partnerships reflects IRAS’s push to digitize core tax administration services, reducing administrative burdens and processing delays.
Eligible corporate taxpayers can initiate eGIRO setup via their myTax Portal accounts. IRAS advises verifying bank participation before applying.
Source: IRAS, 9 October 2024.