Common tax-filing errors of the self-employed

The Inland Revenue Authority of Singapore encourages self-employed taxpayers who submitted incorrect returns to come forward voluntarily to disclose their slip-ups because it will mean penalties may be greatly reduced.
The Inland Revenue Authority of Singapore encourages self-employed taxpayers who submitted incorrect returns to come forward voluntarily to disclose their slip-ups because it will mean penalties may be greatly reduced.ST PHOTO: KUA CHEE SIONG

$100 million recovered from Iras' audits on self-employed individuals

Most of us pay our taxes every year but there are still some who unknowingly commit errors.

The taxman has recovered about $100 million in additional taxes over the past five years from its compliance programmes conducted on self-employed taxpayers who submitted incorrect returns.

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A version of this article appeared in the print edition of The Sunday Times on April 07, 2019, with the headline 'Common tax-filing errors of the self-employed'. Print Edition | Subscribe