Friday, April 13, 2007

Tax Deadline


Next week is the deadline of income tax filing in Singapore (18 Apr?). So the whole country will be busy next week doing the same thing: screaming at and banging the computer screen because the website of tax body (IRAS) in Singapore is jammed.
As it is easier to file online, the whole country will access the website around a week before the deadline.

Yes, it's very easy to file your tax here. And surprisingly, the tax system in Singapore is quite understandable, unlike the system in Indonesia, where the amount of tax that you need to pay depends solely on what kind of yacht that the tax officer is planning to buy that year.
The calculation in Singapore is as follows:
1) If you earn less than SGD 20.000 per year, you don't need to pay tax
2) If your earning is more than SGD 20,000, you need to pay 10%, progressively
3) If you ever take two seats for yourself in a full bus, with many people standing, including 104-year-old pregnant lady who carries 20 kg of groceries, then you need to pay SGD 2 million and your index finger to the IRAS.
Sorry the last one is added by me. But I think that’s a nice addition.

Anyway, the tax in Singapore is not as high as other countries, although I heard some Singaporeans complained about it. But the nice thing is that no matter how much you pay for the tax, to the government, you can be sure that the money will be back to you, in the form of security, GDP growth, more train lines, more CCTV to watch your every move, even when you are dancing around your house naked.
So, I must say it’s worth it. Therefore, let’s submit our income tax! As soon as I can get through this congested website.

2 comments:

raghav said...

ha ha .. being an Indian I can relate to the tax hassles .. what happens if you are not able to go thru the website and submit it within the stipulated time ??

Empy Effendi said...

Haha, I actually do not know. Maybe they slap your wrist with giant ruler? Maybe they confiscate your house and all your things including your sixteen year old underwears? Maybe they screw bolts in your head.
I don't know, they are the IRAS, and they can do anything, and am not stupid enough to try to find out :D.
Maybe some fines will do.