Understanding IRAS Reporting

IRAS reporting enables you to capture, generate, and maintain both employee and company identification and biographical data that support the reporting requirements of IRAS. The system meets the IRAS requirement to produce the IR8A, IR8S, Appendix 8A and 8B, IR21, and Appendix 1 forms, which are required for reporting annual payments, benefits, gains or profits from share options, and foreign employees who are terminating their employment.

For IR8A/IR8S and Appendix 8A reporting, the system extracts most of the data from payroll (for Appendix 8B reporting, you enter the details manually). System pages then enable you to review, maintain and enter additional data, and print the forms for distribution to employees in the required format. You can also produce files in the format that IRAS requires, for electronic reporting of employees' payments and benefits, and processes enable you to create the electronic files in the format that the CPF/IRAS Line system requires.

Corporations in Singapore have the option to choose an Auto Inclusion Scheme for reporting employment income to IRAS, a scheme where employers transmit details of employees' employment income to IRAS electronically. Salary, bonus, tax-deductible donations, and CPF contribution information is automatically included in the employees' income tax assessment. The employee does not need to declare or claim the income when filing their income tax returns.

For IR21 and Appendix 1 forms, a process enables you to extract the data from the IR8A/IR8S forms. You can then enter additional data and print the forms in the required IRAS format.

This topic discusses:

• Tax reference tracking.

• IR8A/IR8S and Appendix 8A and 8B processing management.