E-Filing of Withholding Tax Forms Agenda Find out the Benefits of - - PowerPoint PPT Presentation

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E-Filing of Withholding Tax Forms Agenda Find out the Benefits of - - PowerPoint PPT Presentation

Dec 04, 2022 438 likes •1.18k views

E-Filing of Withholding Tax Forms Agenda Find out the Benefits of e-filing Learn to e-file Discover Other useful e-Services to manage your submission: a. View Submitted Forms b. View GIRO deduction details c. View Certificate

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E-Filing of Withholding Tax Forms

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Agenda

  • Find out the Benefits of e-filing
  • Learn to e-file
  • Discover Other useful e-Services to manage your submission:
  • a. View Submitted Forms
  • b. View GIRO deduction details
  • c. View Certificate of Residence (COR) Filing Status
  • Frequently Asked Questions
  • Q&A
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Benefits of e-filing

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  • Benefits of e-filing
  • You can file your tax online anytime
  • Your filing is secured and will be received
  • You will be informed of errors in your filing
  • You will know the exact tax and penalty (if any) to pay
  • You can cut down on your paperwork
  • You have better internal control as submission is done by authorised personnel only
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How to e-file

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S45 Withholding Tax e-Filing

Logon to MyTax Portal Select Withholding Tax

  • Complete

Withholding Tax Form Submit for Approval (if you are the Preparer) Approver to logon to MyTax Portal for approving

  • Save a PDF copy
  • f Consolidated

Statement Submit to IRAS Save a PDF copy of Acknowledgement page

  • Complete your

e-Filing in 8 Easy Steps

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  • Pre-requisites for Using S45 Withholding Tax e-

Services

E-Services Authorization System (EASY) EASY is an online system that allows organizations to authorize their employees or a third party to access e-Services on their behalf. https://mytax.iras.gov.sg/easy

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Logging in and Accessing S45 e-Services via myTax Portal

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Logging in and Accessing S45 e-Services via myTax Portal

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These options will only be shown for an Approver.

Logging in and Accessing S45 e-Services via myTax Portal

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Filing New Withholding Tax Form

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Filing New Withholding Tax Form

: 2012XXXXXA : XXX

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Filing New Withholding Tax Form – Main Form

: 2012XXXXXA : XXX

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Filing New Withholding Tax Form – Main Form

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Filing New Withholding Tax Form – Consolidated Statement (Preparer Role)

: 2012XXXXXA : XXX

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Filing New Withholding Tax Form – Consolidated Statement (Preparer Role)

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Filing New Withholding Tax Form – Acknowledgement Page (Preparer Role)

: 2012XXXXXA : XXX

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Approving Withholding Tax Form (Approver Role)

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: XXX : 2012XXXXXA

Approving Withholding Tax Form (Approver Role)

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Approving Withholding Tax Form (Approver Role)

: 2012XXXXXA : XXX

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: 2012XXXXXA : XXX

Approving Withholding Tax Form (Approver Role)

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Approving Withholding Tax Form (Approver Role)

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Approving Withholding Tax Form – Consolidated Statement (Approver Role)

: 2012XXXXXA : XXX

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Approving Withholding Tax Form – Consolidated Statement (Approver Role)

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Approving Withholding Tax Form – Acknowledgement Page (Approver Role)

: 2012XXXXXA : XXX

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Approving Withholding Tax Form – Acknowledgement Page (Approver Role)

Note: Penalties will be imposed and deducted via GIRO with tax amount payable if filing is submitted after the due date, highlighted in black box. Please ensure there are sufficient funds in your bank account by the GIRO deduction date, highlighted in black box. No online amendments are allowed once the form has been submitted. You will have to write in via myTax mail with supporting document(s) (except for declaration of additional tax which can be e-filed). All amendments will only be done after the GIRO deduction. Refunds, if any, will be made through your GIRO account.

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Approving multiple submission (Approver Role)

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: XXX : 2012XXXXXA

Approving multiple submission (Approver Role)

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Approving multiple submission (Approver Role)

: XXX : 2012XXXXXA

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Approving multiple submission – Main Form (Approver Role)

: 2012XXXXXA : XXX

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Approving multiple submission – Main Form (Approver Role)

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: 2012XXXXXA : XXX

Approving multiple submission – Consolidated Statement (Approver Role)

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Approving multiple submission – Consolidated Statement (Approver Role)

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Submitting multiple submission (Approver Role)

: 2012XXXXXA : XXX

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Submitting multiple submission (Approver Role)

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: XXX : 2012XXXXXA

Submitting multiple submission (Approver Role)

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: XXX : 2012XXXXXA

Submitting multiple submission (Approver Role)

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Submitting multiple submission – Acknowledgement Page (Approver Role)

Note: Date and Time of Acknowledgement is as based on IRAS’s server timing. Penalties will be imposed and deducted via GIRO with tax amount payable if filing is submitted after the due date, highlighted in black box. Please ensure there are sufficient funds in your bank account by the GIRO deduction date, highlighted in black box.

: XXX : 2012XXXXXA

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Submitting multiple submission – Acknowledgement Page (Approver Role)

Note: No online amendments are allowed once the form has been submitted. You will have to write in via myTax mail with supporting document(s) (except for declaration of additional tax which can be e-filed). All amendments will only be done after the GIRO deduction. Refunds, if any, will be made through your GIRO account.

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Retrieving of Draft Return for Editing before submission for approval or submission to IRAS

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Retrieving of Draft Return for Editing before submission for approval or submission to IRAS

: XXX : 2012XXXXXA

Note: Draft copy of the Section 45 Form will be saved in the system for 60 days. After which, it will be deleted. Saving the record(s) as a draft is not considered as a submission of the Form. Please remember to submit the Form before the filing deadline. Counter will reset to another 60 days if you click

  • n <Save Draft> after

retrieval of the draft record(s)

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View Submitted Forms

Applicable: When you e-file and wish to check the submission status of the records

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Viewing Submitted Forms

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: XXX : 2012XXXXXA

Viewing Submitted Forms

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Viewing Submitted Forms

: XXX : 2012XXXXXA

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Viewing Submitted Forms

: XXX : 2012XXXXXA

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Viewing Submitted Forms

Submission Status Definition Status Definition

Submitted File has been received by IRAS In Progress File is being processed Processed File has been processed. If your Withholding Tax is not under GIRO, please make payment by the due date. If your Withholding Tax is under GIRO, you may view the plan in ‘View GIRO Deduction Details’ screen. Error File contains Invalid data

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View Withholding Tax GIRO Deduction Details

Applicable: When you wish to obtain more information on the details of GIRO deduction and its status

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Viewing S45 Withholding Tax GIRO Deduction Details

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Viewing S45 Withholding Tax GIRO Deduction Details

: XXX : 2012XXXXXA

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Viewing S45 Withholding Tax GIRO Deduction Details

: XXX : 2012XXXXXA

View Active Deduction Plan – Transaction(s) Information

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View Active Deduction Plan – Payee’s Information

: XXX : 2012XXXXXA

Note: The maximum no.

  • f Payee’s

Information that can be retrieved is 250.

Viewing S45 Withholding Tax GIRO Deduction Details

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Viewing S45 Withholding Tax GIRO Deduction Details

GIRO Deduction Date

  • 1. The GIRO deduction date is on the 25th of the month of the tax is due. But if it is a weekend
  • r public holiday, it will be deducted on the next working day.
  • 2. For Payers who have filed after the due date (16th of the month to 15 of the following

month), deduction will be on the next deduction date . See examples below.

S/N Date of Payment to Payee Due Date Filing / Submission Date Tax Deducted Penalties Imposed Date of Deduction 1. 14 Jan 2017 15 Mar 2017 14 Mar 2017 $1,000 $0.00 25 Mar 2017 2. 31 May 2017 15 Jul 2017 16 Jul 2017 $1,000 $50.00

(5% x Tax Deducted)

25 Aug 2017 3. 05 Sep 2017 15 Nov 2017 05 Sep 2017 $1,000 $0.00 25 Nov 2017

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Viewing S45 Withholding Tax GIRO Deduction Details

: XXX : 2012XXXXXA

View History Deduction Plan

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Viewing S45 Withholding Tax GIRO Deduction Details

View History Deduction Plan

: XXX : 2012XXXXXA

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View Submission Status of Certificate

  • f Residence by Non-Resident Payees

Applicable: When you claim for Double Taxation Relief (DTR) in your withholding tax submission

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Viewing Submission Status of Certificate of Residence

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Viewing Submission Status of Certificate of Residence

: XXX : 2012XXXXXA

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Viewing Submission Status of Certificate of Residence

: XXX : 2012XXXXXA

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Viewing Submission Status of Certificate of Residence

Note: Only current + 2 back years of COR records are shown The maximum no. of COR that can be retrieved at View Submission Status page is 250 records.

: XXX : 2012XXXXXA

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Viewing Submission Status of Certificate of Residence

S/N COR Submission Status Definition 1 COR RECEIVED COR has been received by IRAS 2 NOT REQD COR submission is not required 3 PENDING COR not received by IRAS yet 4 UNDER REVIEW COR is currently under officers’ review and update 5 DISALLOWED COR not submitted by due date, DTR claim revoked Definitions of Submission Status

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Frequently Asked Questions

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List of Nature of Payment

: XXX : 2012XXXXXA

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Which form to file?

File Form IR37 with the following payments

Nature of Payment Domestic Tax Rate Interest 15% Royalty 10% Rental of movable property 15%

  • The reduced rates (10%/15%) apply to payments made to non-residents which:
  • are not derived by the non-residents from any trade, business, profession or

vocation carried on in Singapore; and

  • are not effectively connected with any permanent establishment of the non-

residents in Singapore.

  • Otherwise, prevailing corporate tax rate will apply for non-resident companies.
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Which form to file?

File Form IR37 with the following payments

Nature of Payment Domestic Tax Rate Management Fee Prevailing Corporate tax rate Director’s Fee Prevailing non-resident tax rate Directors Remuneration Prevailing non-resident tax rate Technical Assistance Fee Prevailing Corporate tax rate Charter Fee 2% Real Estate Investment Trust (REIT) 17% (10% during 18 Feb 2005 to 31 Mar 2015) Payment for junket promoter 3% Fee paid under Supplementary Retirement Scheme (SRS) Prevailing non-resident tax rate

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Form IR37C for payment to non-resident professional (NRP)

  • Withhold tax at 15% of the gross income
  • Withhold tax on net income at prevailing non-

resident rate, currently at 22%

Which form to file?

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Form IR37D for payment to non-resident public entertainer

  • Withhold tax at 10% for income due and payable to

the non-resident public entertainer during the period 22 Feb 2010 to 31 Mar 2020

Which form to file?

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How to compute Withholding tax if it is borne by payer?

Example – Payment for services rendered in year 2017

Amount billed by payee - $10,000 Amount paid to payee - $10,000 Taxable Income - $10,000 Re-gross taxable income - $12,048.19 (Gross Income/ [100%-applicable tax rate]) = $10,000/83% Tax Rate – 17% Tax Amount - $2,048.19 ($12,048.19 * 17%)

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When to file & pay?

File and pay to IRAS by 15th of the 2nd month from the date of payment to the non-resident When you are on GIRO and you e-file your submission by the due date, payment will be deducted by GIRO on the 25th of the month that the tax is due.

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What if my payment to payee is in foreign currency?

Withholding tax declaration needs to be in Singapore dollar equivalent (S$) If payment to payee is not made in S$, use the exchange rate prevailing as at the date of payment to payee

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What is considered the date of payment to payee?

It is the earliest of : Date the payment is due and payable, based

  • n the agreement or contract. Date of

invoice, if there is no agreement or contract Date the payment is credited to the account

  • f the non-resident or to an account

designated by the non-resident Date of actual payment

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Quiz: When must you file & pay?

April May June Date of Payment: 04 April 2017 File and pay to IRAS by 15 June 2017

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Questions & Answer

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