Understanding Income Tax in Singapore: What Horizons Does and Your Role


At Horizons, we’re here to make income tax easy for you. Here’s a simple guide to what we do and what you need to do:

What Horizons Does


For Local Employees


 - Every Month: We keep track of your salary, bonuses, and any other benefits you receive. We don’t deduct tax from your pay.

- Every Year: By March 1, we send your income details to the tax office (IRAS) through a system called Auto-Inclusion Scheme (AIS).


For Foreign Employees (Non-Residents)

- Every Month: We don’t deduct tax from your salary.

- When You Leave:  If you’re offboarding, we’ll hold back your last month’s salary and report all your income to IRAS using a form called IR21.


- If your final salary doesn’t cover your taxes, you’ll need to pay the rest directly to IRAS.



What You Need to Do


- Check Your Income Details: By March, log in to the myTax Portal to check the income details we’ve submitted. Let us know if anything’s wrong so we can fix it.

- Declare Extra Income: If you earn money from other sources (like freelancing or renting out property) or want to claim tax reliefs (like for supporting your parents or CPF contributions), file your tax return (Form B/B1) by April 18–May 18 (for e-filing).

- Pay Your Taxes: Once you get your tax bill (called a Notice of Assessment), make sure to pay it by the due date.


Key Things to Remember

- For Horizons: We’ll send your income details to IRAS by March 1 or file IR21 when you leave.

- For Employees: You’ll get reminders from IRAS about tax deadlines. Make sure to act on them to avoid penalties.

Why This Matters

We handle the paperwork to ensure everything is correct and on time. Your job is to check your details, declare any extra income, and pay your taxes. Working together makes tax season quick and easy!

Got questions? Reach out to us or contact IRAS for help. Let’s make tax season stress-free!

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