What is the Scheme about?
Inland Revenue Authority of Singapore (IRAS) allows taxpayers with GIRO arrangement to defer income tax instalments for 3 months, from May 2009 to July 2009.
I thought IRAS was in the same helpful mode as per Budget just presented earlier ie. delaying its collection of current tax payable due to IRAS.
But which 3 months are we talking about? May, Jun and July 2009!!! For these months, we are actually paying tax in ADVANCE ie. for YA2009. They are actually not due until we receive our Assessment after we report our income on April 15.
So IRAS, are you really helping us to alleviate our financial burden? I don’t think so.
Bottomline – You are not defering tax on money I owe you but rather you are defering on tax I am not due to pay you.