Singapore Tax: How to pay your income tax
There are other ways to pay your income tax other than through GIRO, AXS or PayNow.
By Dee Lim
Income tax is applicable to anyone working and residing in Singapore, and once you've filed all the necessary paperwork to declare your income, you'll have to be prepared for the next step — paying your taxes within one month of receiving your bill.
First, you’ll want to check how much you owe for income tax, which you can do on the IRAS website by logging into myTax Portal and going to "View Account Summary".
Then, it's time to make your payments — what are the ways you can do this?
One of the easiest and most convenient ways to pay your income tax, all you'll need is to have your GIRO arrangement set up once, and payments in subsequent years can use this. Opting for GIRO allows you to pay through monthly interest-free instalments or a yearly one-time payment. Keep in mind you’ll need at least three business days for the approval of a GIRO arrangement to go through.
You can get a PayNow QR code generated after logging into myTax Portal or using the chatbot on the IRAS website by selecting the "Make Tax Payment" option. These are the only two ways IRAS will generate a PayNow QR code — you will never get any codes through physical or digital notices, letters, emails, SMSes or WhatsApp messages. Use this guide for more help with making payments.
AXS has several options to make payments at your convenience — you can use one of their kiosks located islandwide, log onto their website or use the AXS app. You'll need to make sure that you have your tax reference number available to make payment. Take note that there's a limit of S$9,999.99 for each AXS transaction, but that will also depend on your credit or debit card limits. Here's the guide to using AXS for your payments.
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Through Internet Bill Payments
You can easily set up IRAS as a billing corporation on your Internet banking account. You'll need access to your account online, and under Bill Payments, select IRAS as the billing organisation. Remember to input your tax reference number or the 14-digit payment slip number under the bill reference/bill account/ customer reference number field to avoid complications. Also, keep in mind your payment will take around three working days to be processed and that the amount you can pay is dependent on your bank limits.
Through Internet Bank Transfer
There's also the option of adding IRAS using its account details and transferring your payment that way. Again, bear in mind your bank limits when making payments. However, you cannot make a lump sum payment for multiple tax references or payment slip numbers. Each transfer should be applicable for one tax payment. Again, remember to include the tax reference numbers in your payment for ease of processing. You can find the IRAS bank details here, under "Internet Banking Fund Transfer".
Through Telegraphic Transfer
This is the easiest option for those working in Singapore but don't have a Singapore bank account. You'll need to take note of all the bank processing fees and other bank charges, which will have to be paid by you. Otherwise, the amount transferred might not be enough after taking into account all the different charges. You'll also need about 10 to 21 working days for the payment to be processed, depending on the currency, country and the remitting bank.
Singpost offers three avenues to make payments — in person using a cash card or NETS at any post office, or with cash at Chinatown, Jurong Point, Novena, Tampines Central, Toa Payoh Central or Woodlands Central branches; the SAM kiosk or SAM Online. To make your payments through the kiosk or online, you'll need your payment slip. Simply scan the barcode on the slip or key in your payment slip number. You can also use your tax reference number to make your payment. SAM kiosks only accepts NETS to make payments, so the amount you can pay will be dependent on the daily payment limit you have set. For those using SAM Online, you'll use eNETS debit, so the daily limits are also applicable here. It will take three days to process payments made at a post office, while those made at SAM kiosks and online are immediately processed.
What happens if you need more time to pay your income tax or know that you'll have trouble paying the amount each month? There's an option to apply for a longer payment plan – you can find out more about it here.
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