1. What if I did not withhold tax?
Withholding tax is your responsibility. We are empowered to recover the tax from you by:
- Appointing agents such as banks, tenants, among others
- Initiating legal actions
2.What if I fail to inform IRAS of the tax withheld?
If tax had been withheld but not paid to IRAS, an offence would have been committed.
On conviction, you will have to pay:
- A penalty equals to three times the amount of withholding tax; and
- A fine not exceeding $10,000; or
- Imprisonment for a term not exceeding three years; or
- Both
Detailed services and information related to business in Singapore can be found and inquired through the PREMIA TNC website.
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