? #ICYMI: Earlier in April, IRAS announced the requirement for new voluntary GST-registered businesses to transmit invoice data to IRAS using InvoiceNow solutions via the InvoiceNow network (“GST InvoiceNow Requirement”). There are plans to progressively implement this requirement to all GST-registered businesses.

? We invite all businesses to share their feedback on our draft e-Tax Guide "Adopting InvoiceNow Requirement for GST-registered Businesses" from 12 June to 11 July 2024. Visit go.gov.sg/iraspublicconsultation for the e-Tax Guide and submit your feedback. All responses will be kept strictly confidential.

? IRAS is committed to consulting businesses and industry partners. We will consider all feedback to ensure a smoother transition for the new voluntary GST registrants and re-calibrate the implementation plan for the remaining GST-registered businesses to use InvoiceNow solutions. We will publish a summary of responses at go.gov.sg/iraspublicconsultation thereafter. 

? Have a question about the consultation? Email us at [email protected].

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IRAS | Public Consultation

Date of Publication

*? Spot the signs of a phishing email scam.*

Don’t hand over your personal data, bank account or credit card details via clickable links sent by emails. Updates and transactions must be done on myTax Portal (mytax.iras.gov.sg).

Always check the email address even though the sender ID shows ‘IRAS’. Sender ID can be spoofed to make the email looks legitimate. A legitimate email address from IRAS ends with “@iras.gov.sg”.

?? Learn how IRAS protects you from scams

?If Fiona’s total annual net trade income exceeded $6,000 or total annual taxable income exceeded $22,000 last year, she will need to file a tax return by 18 April. The non-monetary payments/ benefits earned from her sponsorships should be reported under "Trade, Business, Profession or Vocation" in her individual Income Tax Return.

? Find out more about the tax obligations of online sellers and service providers at go.gov.sg/tax-guide-online-sellers-service-providers

⏰ It’s tax season! File your taxes at myTax Portal by 18 Apr: https://mytax.iras.gov.sg/

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IRAS | Tax guide for online sellers and service providers

Income from online activities that are undertaken on your own account or on behalf of third parties for a profit is taxable.