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Inland Revenue Authority of Singapore – Income Tax Department
The Inland Revenue Authority of Singapore is better known as IRAS Income Tax. IRAS Singapore is part of the statutory board of the Singapore government established under the Ministry of Finance and tasked with being in charge of Singapore tax collection. IRAS office is located at 55 Newton Rd, Revenue House, Singapore 307987. For the IRAS hotline, you can find their contact information. For IRAS login, click here to proceed.
History of IRAS Income Tax
In 1947, the Singapore Income Tax Department was formed in Singapore to be the administer of the Income Tax Ordinance which was enacted in that same year. Actual assessing of taxes however, only began in November 1948 and in the first year of assessment alone, about 40,000 individual tax returns and 1,000 corporate tax returns were received by the department. IRAS Singapore collects taxes, such as IRAS Income Tax, which account for about 70% of the Singapore Government’s operating revenue, which helps to support the government’s economic and social programs. Taxes, like IRAS Income Tax, help to achieve quality, growth and an inclusive society from which all Singaporeans stand to benefit from. IRAS Singapore is also responsible for representing the government in tax treaty negotiations, drafting tax legislation and providing advice on property valuation to the government.
In 1959, self-government took place and the Inland Revenue Department was formed in 1960 when various revenues which were previously administered and collected by a number of separate agencies were brought together. When Singapore achieved independence in 1965, the Income Tax Act saw substantial changes take place, all of which came into effect on the 1st of January 1966.
Official Establishment of IRAS Income Tax
IRAS Singapore was officially established by legislation in Singapore on the 1st of September 1992, as a statutory board under the Ministry of Finance and incorporated by the Inland Revenue Authority of Singapore Act to take over the functions which were previously the responsibility of the Inland Revenue Department. With this conversion, IRAS was given the autonomy and the flexibility to manage its personnel and its financial resources through its IRAS hotline, IRAS login and IRAS office to take charge of taxes like IRAS Income Tax..
What is IRAS Income Tax?
IRAS Income Tax acts as an agent of the government to provide service in the administration of taxes and advise the government while at the same time represent Singapore internationally on matters which relate to taxation. IRAS’s mission is to be the leading revenue authority in the world and build a dynamic team of competent and committed people and to be a partner of the community in nation-building and inclusive growth.
IRAS office operates based on five core values, which include:
- Fostering a competitive tax environment which supports inclusive growth for the country
- To enhance organizational and staff productivity in Singapore
- Provide excellent service at all times
- To maximize voluntary compliance and
- To achieve a high level of staff competence and satisfaction.
IRAS office operates with fairness to everyone, integrity to do right without favour in all circumstances, to act with integrity and to behave professionally to serve the nation responsibly.
How to File IRAS Income Tax?
An individual will be informed to file an Income Tax Return via a letter, form or an SMS from IRAS. One can either choose to do the IRAS Income Tax return filing via the e-filing at myTax Portal or filling up the Paper Form. If you opt to do the e-filing of IRAS Income Tax return at myTax Portal, you have to complete it between the 1st of March and the 18th of April every year; If you opt to do via Paper Form, you will have to complete by the 15th of April every year. Failure to complete IRAS Income Tax return filing on time and committing errors in the filing will result in enforcement actions taken. Should you wish to make amendments to your income tax return filing, you can always re-file at myTax Portal if you had done via e-filing previously or write in to IRAS if you had paper filed your income tax return. Read more about IRAS Income Tax at our Singapore Personal Income Tax Guide!