{"id":23,"date":"2015-10-07T14:07:02","date_gmt":"2015-10-07T14:07:02","guid":{"rendered":"http:\/\/taxmakeeasy.sg\/?p=23"},"modified":"2020-08-19T16:51:47","modified_gmt":"2020-08-19T08:51:47","slug":"paying-your-income-tax-giro","status":"publish","type":"post","link":"https:\/\/www.taxmadeeasy.sg\/paying-your-income-tax-giro\/","title":{"rendered":"Paying your taxes via GIRO (Part 1)"},"content":{"rendered":"

Paying your income tax \u2013 GIRO<\/strong>
\nThere are various modes of payment when paying your Company\u2019s taxes.<\/p>\n

<\/p>\n

There are various modes of payment when paying your Company\u2019s taxes. One of them is through GIRO.<\/p>\n

Most of you should not be unfamiliar with payment by GIRO as your utilities and telephone bills are most likely paid using GIRO.<\/p>\n

To pay taxes by GIRO, your company simply needs to have a bank account registered with the tax authority and payment or refund transactions will be conducted through this registered bank account.<\/p>\n

To encourage more companies<\/strong><\/span> to make payment via GIRO, the tax authority has introduced the instalment scheme when you elect to pay your company’s tax bill via GIRO.<\/p>\n

The number of instalments available for companies when estimated taxes are paid via GIRO are as follows:<\/p>\n\n\n\n\n\n\n\n
File your company estimated tax payable by:<\/u><\/strong><\/td>\nManual filing (by post or fax) \u2013 No. of instalments<\/u><\/strong><\/td>\nOnljne submission \/ E-filing \u2013 No. of instalments<\/u><\/strong><\/td>\n<\/tr>\n
26th<\/sup> of the first month after the business year end<\/td>\n5<\/td>\n10<\/td>\n<\/tr>\n
26th<\/sup> of the second month after the business year end<\/td>\n4<\/td>\n8<\/td>\n<\/tr>\n
26th<\/sup> of the third month after the business year end<\/td>\n3<\/td>\n6<\/td>\n<\/tr>\n
After 26th<\/sup> of the third month of the business year end<\/td>\nNo instalment will be given<\/td>\nNo instalment will be given<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Example<\/u><\/p>\n

ABC Pte Ltd business year end is 31 December 2014.<\/em><\/p>\n

    \n
  1. If it files its estimated tax payable on 27 January 2015, it will receive 4 instalments for manual filing and 8 instalments on e-filing.<\/em><\/li>\n
  2. b) If it files its estimated tax payable on 30 March 2015, it will receive no instalment for both manual filing and e-filing<\/em><\/li>\n<\/ol>\n

    Therefore, if your company has not registered for GIRO payment and would like to, simply download the GIRO application form at IRAS website and complete accordingly.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Paying your income tax \u2013 GIRO There are various modes of payment when paying your Company\u2019s taxes.<\/p>\n","protected":false},"author":1,"featured_media":125,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[11,8,6],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n