SINGAPORE : Some 50,000 taxpayers will no longer need to file an
income tax return.
The Inland Revenue Authority of Singapore says it will stop sending
paper returns to those earning less than $22,000 a year.
This follows its move to raise the taxable income threshold for
salaried employees from $20,000 to $22,000 from 2005.
They will join the pool of more than 300,000 non-taxable
Singaporean residents who earn less than $20,000.
However, any taxpayer who is issued with a paper return or PIN
mailer must still submit their return by April 15, the filing due
date.
This is one of three changes the IRAS has made to the filing of
individual income tax returns.
From this year, taxpayers who have previously submitted their tax
forms online will be given a permanent personal indentification
number (PIN).
They should be receiving the paper returns as well as the PIN
mailers from Thursday.
Those who do not get their paper returns or PIN mailers by March 15
can use their SingPass to e-file, or call 1800-356 8300 (for
salaried employers) and 1800-356 8611 (for self-employed) for
assistance.
Also from this year, a married woman will be issued an income tax
return and PIN mailer separately from her husband.
This means married female taxpayers no longer need to elect for
separate assessment when they file their return.
The IRAS says it is making this change in response to the societal
shift where more married women are working.
It is generally more advantageous for spouses to be taxed
separately as their individual incomes would attract a lower
marginal tax rate. - CNA