The Business Times
SUBSCRIBERS

Singaporeans step up in paying their taxes

Tax arrears reach record low, on-time filing rates improve

Published Mon, Aug 25, 2014 · 10:00 PM
Share this article.

[SINGAPORE] Singapore taxpayers are now better than ever at paying their taxes as tax arrears hit a record low and on-time tax filing rates improved.

Overdue or unpaid taxes for the year ended March 31, 2014, hit a record low of 0.77 per cent of total net tax assessed, according to the latest annual report and statistics released by the Inland Revenue Authority of Singapore (IRAS) on Monday.

The on-time filing rates improved to 95.6 per cent from 94 per cent for individuals, and to 82.5 per cent from 80.9 per cent for companies.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

New Articles

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here