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Parliamentary Replies

Longer Installment Plans for Income Tax Payment for Taxpayers with Financial Hardship

09 May 2016

Parliamentary Question by Mr Zainal Sapari:

To ask the Minister for Finance whether IRAS will allow Singaporeans who are retrenched due to the economic downturn this year to defer their income tax payment till they are able to find employment.

Reply by Minister for Finance Heng Swee Keat:

Under the existing IRAS GIRO Scheme, taxpayers can pay their income tax by up to 12 monthly interest-free installments. A taxpayer who faces financial hardship may apply to IRAS for longer installment plans.