More than 100,000 employers are expected to participate in the scheme.
The Inland Revenue Authority of Singapore (IRAS) has extended the Auto-Inclusion Scheme (AIS) for Employment Income to more than 100,000 employers, expected to submit their workers’ employment income information by 1 March.
This is expected to benefit more than 2 million taxpayers; whilst 1.7 million taxpayers will also be eligible for the No-Filing Service (NFS) this season.
The AIS will apply to employers with at least five employees in 2022. Those with fewer tan 5 employees may apply to the scheme in 2024.
Meanwhile, taxpayers entitled to the NFS will only be required to verify the accuracy of their pre-filled income information.
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“Their tax bill will be computed based on the income information provided by their employer and their previous year’s relief claims. They will start receiving their tax bills from mid-March 2023,” the IRAS noted.
“Taxpayers can still make changes to their income and/or tax relief details upon receiving their tax bills by filing an amendment using the Object to Assessment digital service in myTax Portal within 30 days of the date of their tax bill.