Applications for Longer Instalment Plans for Income Tax Payments
08 Apr 2025Parliamentary Question by Mr Ong Hua Han:
To ask the Prime Minister and Minister for Finance in the past five years (a) how many individuals have applied for a longer instalment plan to pay their income taxes; and (b) what percentage of these applications have been approved.
Parliamentary Answer by Second Minister for Finance, Mr Chee Hong Tat:
Taxpayers who face difficulties in paying their taxes due to unexpected or extenuating circumstances, can apply to the Inland Revenue Authority of Singapore (IRAS) for extended instalment plans beyond the standard 12 months interest-free instalment plan for payments via GIRO.
Almost all applications in the past five years were approved by IRAS as these taxpayers were generally able to provide valid reasons for why an extended instalment plan was needed. The number of individuals who applied for and received an extended instalment plan in the past five years is provided in the table below.
Calendar Year | 2020 | 2021 | 2022 | 2023 | 2024 |
Number of individuals who applied for and received an extended instalment plan | 8,200 | 8,200 | 8,500 | 9,200 | 12,900 |
Notes:
(1) The figures are rounded to the nearest hundred.