deadline of 11 May 2020. e-Tax Guide on IRAS' Voluntary Disclosure Programme (PDF, 519KB). If you are a resident of Canada and have over $100,000 CAD in Specified Foreign Property during any point in the year then you meet the basic requirements in filing the T1135. deadline of 30 Apr 2019, i.e. Disclosure applies to all types of offences under laws and regulations administered and enforced by Singapore Customs. IRAS is prepared to reduce penalties for voluntary disclosures which meet the qualifying conditions. GST Exemption For Investment Precious Metals, Home Brewed Beer And Other Fermented Liquors, Transfer Of Remains For Cremation Or Burial, Harmonised System Competent Authority Product Code Search Engine, Manifest Reconciliation Statement (MRS) Scheme, © 2021 To support taxpayers that want to rectify past errors, but experience difficulties putting together the information during this COVID-19 period, we will be providing a one-time extension of timelines for determining whether an error was disclosed within the grace after the grace period. IRAS’ Voluntary Disclosure Programme 1 Aim 1.1 This e-Tax Guide provides guidance on the conditions for a voluntary disclosure to qualify under IRAS’ Voluntary Disclosure Programme (VDP). Revenue House The taxpayer must also: • Cooperate fully with IRAS to correct the errors made, and Cooperate fully with IRAS to correct the errors made; and, Pay or make arrangements with IRAS to pay additional taxes or amount exceeding cash payout / bonus than entitled to and penalties imposed (if any), and honour such arrangements till all payments are made, 5% of the income tax undercharged or of the amount of cash payout / bonus exceeding entitlement obtained, for each year the error was late in being rectified, Flat 5% of the outstanding Withholding Tax, 5% per annum computed on a daily basis on the Stamp Duty payable. We can assist taxpayers with this application and regain a clean tax record maintained with IRAS. . The VDP applies to income tax, GST, withholding tax and stamp duty. The one-time extension applies to errors that relate to: Under the VDP, the IRAS can grant a full waiver of penalty or reduced penalties. IRS Voluntary Disclosure Program (Updated Practice) New IRS Voluntary Disclosure Program Procedure Update: The updated procedures are a great deal for non-compliant Taxpayers. A taxpayer discloses an To disclose income e-Tax Guide (PDF, 519KB)) to Plan ahead and leave a legacy for years to come. An employer is required to report its employee’s remuneration for the calendar year in an annual return Form IR8E or IR21 (if the employee ceased in the year). The error would attract When you come forward and voluntarily disclose past actions involving a wilful intent to evade taxes or obtain excessive cash payouts/bonus, your offences may be treated with a compounded penalty rate of 200% in lieu of prosecution. IRAS is prepared to reduce penalties for voluntary disclosures which meet the qualifying conditions. deadline of 30 June 2020. Enter Company or Symbol.Press down arrow for suggestions, or Escape to return to entry field. IRAS error in the YA 2019 return for his trust / club / association that was due on The error would CorpPass must be used if you are making a disclosure on behalf of your company. after the grace period. This includes the time it will take to read instructions, gather the necessary facts and fill out the form. A GST taxpayer discloses an a) For voluntary disclosure of errors relating to tax returns, you can inform us in the following ways: Email required information and supporting documentation (detailed in Annex F of The qualifying conditions for IRAS' VDP, you may be charged in court for your tax evasion offences. To encourage taxpayers to review their past records and voluntarily declare any errors made, IRAS is prepared to accord a zero or reduced penalty treatment for voluntary disclosure of incorrect returns submitted without intention to evade tax under the Voluntary Disclosure Programme (VDP). This is because it is made before the extended filing This is because it is made before the extended YA 2020 Individual Income Tax filing deadline of 31 May 2020. the deadline of 15 Apr 2019, i.e. Does My New Company Need to File Form C-S/ C this Year? It … Controlled and Prohibited Goods for Export, Controlled and Prohibited Goods for Transhipment, ASEAN Customs Declaration Document (ACDD), Application for Customs Ruling on Valuation, Singapore Duty-Paid Cigarette (SDPC) Mark, Harmonised System (HS) Classification of Goods, Application for Customs Ruling on Classification of Goods, Claiming Preferential Tariff Treatment for Dutiable Imports, Application for Customs Ruling on Origin Determination of Goods, Cargo Agent's Import Authorisation Scheme, Chemical Weapons Convention (CWC) Licence, Secure Trade Partnership (STP) & STP-Plus, Strategic Trade Scheme Bulk Permit: Export, Transhipment and Transit, Import Certificate and Delivery Verification, United Nations Security Council Sanctions, Border Enforcement of Intellectual Property Rights, e-Learning for Handling of LCL Consolidated Cargoes. A voluntary disclosure is considered timely and self-initiated when it is made before you receive a query from IRAS relating to your tax or cash payout / bonus matters, or before you receive notification from IRAS on the commencement of an audit or investigation on your tax or cash payout / bonus matters. On 1 January 2013, the Inland Revenue Authority of Singapore (IRAS) issued "IRAS's Voluntary Disclosure Programme (VDP)", an updated edition of the e-Tax Guide, which provides guidance on the conditions for a voluntary disclosure to qualify under the VDP. And that’s it! 20 February 2021, Saturday from 03:00 PM to 21 February 2021, Sunday 07:00 PM; 27 February 2021, Saturday from 03:00 PM … . Please note that SingPass should be used for individuals or self-registered traders with no UEN. 2. after the grace period. The error would attract qualifying conditions are met, After the 1 year grace period from the statutory filing deadline and To avoid IRAS queries, it is recommended to carry out a voluntary disclosure to IRAS. Keep and maintain supporting documents, even if IRAS doesn’t always ask for them Prepare the Form 12153 PDF. It must wait for the IRAS directives. The conditions are that the VDP must be timely, accurate, complete and self-initiated, i.e. The VDP is applicable to Income Tax, Goods and Services Tax (GST), Withholding Tax and Stamp Duty. qualifying conditions are met, Extension of grace period for Voluntary You will not need to use the HCES digital service as you are not required to present the hand-carried goods and export permit to Singapore Customs for inspection and endorsement at Changi Airport if you are exempted from the HCES. Please Read Before You Start . The entire form is only three pages long (and even if you make a mistake filling in the fields, the system will prompt you to correct it). This treatment applies to Income Tax, Applying for Certificate of Residence or Tax Reclaim Form, Companies Applying for Strike-Off or To Cease Registration, Self-employed / Sole-proprietors / Partners, Deductions for Self-Employed (Reliefs, Expenses, Donations), Calculating and Reporting Business Income, Go to Self-employed / Sole-proprietors / Partners Section, Reporting employee earnings (IR8A, Appendix 8A, Appendix 8B, IR8S), Tax Clearance for Foreign & SPR Employees (IR21), Auto-Inclusion Scheme (AIS) for Employment Income, Common Scenarios - Do I Charge/Deem/Claim GST, Responsibilities of a GST-registered Business, Go to Non-GST Registered Businesses Section, Purchasing Digital Services from Overseas Service Providers, Selling your Property (for En Bloc Sales), Lower Property Tax Rates for Owner-Occupied Residential Properties, Essential Property Tax Information for HDB Flat Owners, Information for Buyers of Private Residential Properties, Information for Buyers of HDB/ DBSS Flats, Information for Buyers of Other Types of Properties, Information for Buyers of Vacant Land or Development Sites, Senior Employment Credit (SEC), CPF Transition Offset (CTO) and Enabling Employment Credit (EEC), Productivity and Innovation Credit Scheme (PIC), Apply/ Withdraw for Owner-Occupier Tax Rates, Voluntary Disclosure of Past Actions Involving Wilful Intent to Evade Taxes or to Obtain a Higher Amount of Cash Payout / Bonus than Entitled to, e-Tax Guide on IRAS' Voluntary Disclosure Programme, voluntary disclosures of past actions involving a willful intent to evade taxes or obtain excessive cash payout/ bonus. his failure to e-file and pay the S45 Withholding Tax due on Apr 2019 on 1 May Disclosure to the extended filing/submission deadlines announced earlier by deadline of 15 Apr 2019, i.e. before you receive a query from IRAS relating to your tax or cash payout / bonus matters; or. before you receive notification from IRAS on the commencement of an audit or investigation on your tax or cash payout / bonus matters. CorpPass must be used if you are making a … The IRAS VDP applies to Income Tax (including cash payouts / bonus), GST, Withholding Tax and Stamp Duty. correct their errors. Please note that SingPass should be used for individuals or self-registered traders with no UEN. A. qualifying conditions are met, For late stamping or underpayment of Stamp Duty and the 2 At a Glance 2.1 The VDP is applicable to Income Tax, Goods and Services Tax (GST), Withholding Tax and Stamp Duty (SD). However, if you do not meet the penalty, as the disclosure is made more than 1 year after the statutory filing e-Tax Guide (PDF, 519KB)) to The disclosure of the error will be treated as Your submission should also include the following supporting documents: Please note that your submission may be rejected if there is an omission in any information and/or document required. falling within the grace period, and will not attract penalty. For GST late registrants, register for GST online at For more information on HCES, please visit IRAS website. Singapore 307987, Example The NTP will be undergoing scheduled maintenance on the following dates and will not be available during this period. (ii) GST returns for accounting period ended Mar 2019 of How the Extension of Grace Period for Voluntary Disclosure is Applied for the Above Errors, Deductions for Individuals (Reliefs, Expenses, Donations), Basic Guide for New Individual Taxpayers (Foreigners), Individuals (Foreigners) Required to Pay Tax, Deductions for Individuals (Foreigners) (Expenses, Donations, Reliefs, Rebates), Self-Employed / Sole-Proprietors / Partners, Form C-S (Lite) - Simplified Tax Return for Companies With Revenue $200,000 or Below, Filing Estimated Chargeable Income (ECI) and Paying Estimated Taxes. before IRAS questions you on the same matter/issue. 3) IRAS Voluntary Disclosure Programme (VDP) for Withholding Tax aims to encourage payers who have failed to notify/pay IRAS the tax withheld or the tax required to be withheld; or made errors in their filings to come forward voluntarily, in a timely manner, to correct their errors for reduced penalties. 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