Only 2 in 5 taxpayers need to file returns this year

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The annual tax filing season starts today. However, tax filing will be a non-event for the majority of taxpayers.

This is as more than 1.13 million, or nearly 60 per cent, of the 1.92 million taxpayer base are eligible for the No-Filing Service (NFS).

First introduced in 2007 to 45,000 taxpayers, the NFS has grown in scale to benefit 25 times as many taxpayers this year.

Taxpayers who have been informed by Inland Revenue Authority of Singapore (IRAS) of their eligibility for NFS this year will not need to file a tax return, unless they have additional income to declare or changes to make to their personal reliefs.

The remaining 40 per cent of taxpayers who are not on NFS would have received a letter or SMS notification informing them to file via myTax.iras.gov.sg by April 18.

These taxpayers will have to file a tax return this year, even if their employers have sent their salary details to IRAS under the Auto-Inclusion of Employment Income Scheme.