The Inland Revenue Authority of Singapore is a statutory board under the Ministry of Finance of the Singapore Government. IRAS acts as agent of the government to assess collect and enforces payment of taxes. In connection with such functions, IRAS is responsible for administering the following Acts:
- Income Tax Act;
- Economic Expansion Incentives (Relief from Income Tax) Act;
- Property Tax Act;
- Goods & Services Tax Act;
- Betting & Sweepstake Duties Act;
- Private Lotteries Act;
- Stamp Duties Act;
- Casino Control Act – Part IX (Casino Tax); and
- Estate Duty Act
These taxes are levied on individuals, businesses, property, goods, services, casinos etc.
IRAS provides the facility of e-submission in order to transact conveniently via myTax Portal or EASY.
IRAS has been applauded worldwide for implementing the most successful and efficient e-filing system which shows Singapore’s inclination towards a technology driven growth path.
Form 8A, 8S, Appendix 8A, Appendix 8B
An employer must prepare Form IR8A and Appendix 8A, Appendix 8B or Form IR8S (where applicable) for all their employees (who are employed in Singapore) by 1st March each year. This is required under S68 (2) of the Income Tax Act.
Brief Info about each of these forms:
Form IR8A : This form must be completed for ALL employees.
Appendix 8A: This form must be completed if benefits-in-kind are provided to your employees.
Appendix 8B : This form must be completed if employees derived gains or profits from Employee Stock Option (ESOP) Plans or other forms of Employee Share Ownership (ESOW) Plans.
Form IR8S : This form must be completed if you have made excess CPF contributions on your employees’ wages and/or have claimed or will be claiming refund on excess CPF contributions.
Difficulties of traditional IRAS filing process
Process Improvement by using Deskera HRMS
Benefits of using Deskera HRMS based IRAS filings
- Integrated with the enterprise payroll management system
- Automates detail entry, calculations and collation of forms of all employees
- Data validation
- Efficient e-filing
- Reduces the chances of error in filing process
- Cost effective
Deskera HRMS & IRAS :The Process
Deskera HRMS provides an easy to use, secure and efficient way to manage IRAS filings. It provides features to declare Form 8A, 8S, Appendix 8A, Appendix 8B for individual employees of the organization. It also provides self help service to the employees who want to do their own tax filings as shown in the screenshots below.
Step 1: Click on User Administration link in the Administration widget
Step 2: Select an individual employee from the employee list
Step 3: Click on Personnel actions >IRAS detail form/Appendix 8A/8B detail form
Step 4: View & fill IRAS /8S /Appendix 8A/8B detail form and click on submit
View and fill 8S form details when you scroll down the IRAS detail form window and click on submit
After selecting Appendix 8A link from the personnel actions drop down you can view and fill Appendix 8A form details and click on submit
After selecting Appendix 8B link from the personnel actions drop down you can view and fill Appendix 8A form details and click on submit
Well, you will agree that what we have made the IRAS filings task pretty simple.
Deskera HRMS will make your HRMS processes easier to implement, more efficient and cost effective.Features like IRAS filings,CPF etc distinguishes Deskera HRMS from any other product available in today’s market.