In the bustling business landscape of Singapore, where diverse industries from technology to finance and manufacturing thrive, understanding the complexities of local tax obligations is essential.
One key aspect of this financial landscape is the filing of the IR8A form, a critical process for employers that requires meticulous attention to detail and compliance with the Inland Revenue Authority of Singapore (IRAS) guidelines.
In this blog, we explore what filing Form IR8A involves, and how you can make the switch to our taxation services to meet your needs and beyond.
What is Form IR8A in Singapore?
Under S68(2) of the Singapore Income Tax Act of 1947, Singapore employers must fill out the IR8A form for all employees and submit it yearly to the Inland Revenue Authority of Singapore (IRAS) to report employee income.
It must be completed for employees to declare their employment income or earnings for the year of assessment. Examples of such employees include:
- Full-time resident employees
- Part-time resident employees
- Company directors
- Non-resident employees
- Board members and committee members receiving board member fees
- Personnel earning a pension while employed
- All former workers who are still owed wages from the preceding year, such as in the form of stock options gains
Who is Exempted From Form IR8A?
- Foreigners who have left the company or Singapore
- Post-clearance foreign employees who did not perform employee services in Singapore for the whole calendar year
- Employees based outside of Singapore for the entire calendar year and supplied their services entirely outside of Singapore (in this case, Form IR21 must be provided)
What is the Difference Between Form IR8A and IR21?
Unlike Form IR8A, Form IR21 must be filed by employers with foreign or Singapore PR employees who:
- Have ceased employment
- Will go on an overseas posting
- Plans to leave Singapore for more than 3 months
Supporting Paperwork With Form IR8A
There are also other appendices and forms that may be applicable during the Form IR8A filing process:
| Appendix 8A | Appendix 8B | Form IR8S |
|---|---|---|
| Must be completed for employees who were offered benefits-in-kind | Must be completed for employees who obtained gains or profits from either:
|
Must be completed if employer made excess CPF contributions on employees’ salaries and/or have claimed or will claim refund on excess CPF contributions |
What is the Form IR8A Due Date for Submission?
The submission deadline is 1st March of every year. Employers who do not comply will be issued a fine of not more than S$5,000 and who default on payment will be imprisoned for a term of not more than 6 months under Section 94 of the Income Tax Act.
How to Submit Form IR8A
There are 2 ways to submit form IR8A, namely:
- Filing it through the AIS
- Giving a hardcopy to the employees
File it Electronically Through the Auto Inclusion Scheme (AIS)
Employers who have at least 5 employees for the entire YA or who have received notice to file electronically must provide the completed and accurate return electronically to IRAS. These employers do not need to submit hardcopies of Form IR8A and the appendices to employees.
Provide a Hardcopy
Conversely, employers who do not fall under the AIS must provide the hardcopy Form IR8A and the relevant appendices to their employees to file their income tax returns. Employers need not submit the forms to IRAS.
IR8A Filing Mistakes
Mistakes during filing can occasionally occur, but fret not – you can adjust the figures online easily. All you need to do is update with the correct number if revisions to your employee’s income details and other applicable tax responsibilities are required.
Alternatively, you can also engage InCorp’s competent taxation specialists to help with your IR8A obligations entirely, saving you time and preserving your profits. We use IR8A-supported payroll software coupled with the expertise of our professionals.
InCorp is Here to Help With Your Tax Filing Matters
At InCorp, we offer a full suite of corporate services for companies of all sizes, including IR8A form filing for employee earnings. Be assured that you will leave your tax obligations in the hands of highly qualified experts who have the rich experience and knowledge to complete them timely for you.
Contact us today to switch your taxation and payroll needs to us and find out how we can assist your business further!
FAQs on Singapore IR8A Tax Filing
- You can download the IR8A form, as well as the other appendices and forms, on IRAS.
- The submission deadline is 1 March 2024.
- InCorp has competent taxation and payroll teams that can assist with your IR8A filing obligations and other business needs. Contact us to find out more!
Let InCorp assist with your IR8A form filing now!
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