e-Tax Guide on IRAS' Voluntary Disclosure Programme (PDF, 519KB). Prepare the Form 12153 PDF. Disclosure applies to all types of offences under laws and regulations administered and enforced by Singapore Customs. Complete, with all relevant information submitted and, Made before notification or commencement of audit checks and investigations. (iii) YA 2019 Income Tax returns for trusts, clubs and associations deadline of 30 Apr 2019, i.e. All CRA returns, forms and schedules needed to correct the non-compliance must be included with the application. deadline of 11 May 2020. Please make a VDP submission using the Voluntary Disclosure form by logging in via your CorpPass or SingPass. (i) YA 2019 Individual Income Tax returns The IRAS Voluntary Disclosure Programme (VDP) encourages taxpayers who have made errors in their tax returns to come forward voluntarily, in a timely manner, to 2 At a Glance 2.1 The VDP is applicable to Income Tax, Goods and Services Tax (GST), Withholding Tax and Stamp Duty (SD). The New IRS Voluntary Disclosure procedures were updated in 2019, at the close of OVDP. The IRS Voluntary Disclosure Program (VDP) allows U.S. Taxpayers to report domestic … To disclose income To encourage taxpayers to review their past records and voluntarily declare any errors made, IRAS is prepared to accord a zero or reduced penalty treatment for voluntary disclosure of incorrect returns submitted without intention to evade tax under the Voluntary Disclosure Programme (VDP). qualifying conditions for IRAS' VDP, you may be charged in court for your tax evasion offences. To qualify for IRAS VDP, you need to submit a voluntary disclosure that is: A voluntary disclosure is considered timely and self-initiated under either one of the following conditions: After submitting a voluntary disclosure, you must also: For examples on qualifying and non-qualifying Voluntary Disclosures, please refer to Annex A and Annex B respectively of the e-Tax Guide on IRAS' Voluntary Disclosure Programme (PDF, 519KB). The This is because it is made before the extended filing after the grace period. The NTP will be undergoing scheduled maintenance on the following dates and will not be available during this period. Use as much detail as possible to state your issues. IRAS is prepared to reduce penalties for voluntary disclosures which meet the qualifying conditions. And yes, you are correct, the VDP program has changed quite a bit from the previous program. Your submission should also include the following supporting documents: Please note that your submission may be rejected if there is an omission in any information and/or document required. before you receive notification from IRAS on the commencement of an audit or investigation on your tax or cash payout / bonus matters. the deadline of 15 Apr 2019, i.e. In addition to having to meet the general eligibility criteria, individual U.S. taxpayers, or estates of individual U.S. taxpayers, seeking to use the Streamlined Foreign Offshore Procedures described in this section must: (1) meet the applicable non-residency requirement described below (for joint return filers, both spouses must meet the applicable non-residency requirement described below) and (2) have failed to report the income from a foreign financial asset and pay tax as required b… When you come forward and voluntarily disclose past actions involving a wilful intent to evade taxes or obtain excessive cash payouts/bonus, your offences may be treated with a compounded penalty rate of 200% in lieu of prosecution. Cooperate fully with IRAS to correct the errors made; and, Pay or make arrangements with IRAS to pay additional taxes or amount exceeding cash payout / bonus than entitled to and penalties imposed (if any), and honour such arrangements till all payments are made, 5% of the income tax undercharged or of the amount of cash payout / bonus exceeding entitlement obtained, for each year the error was late in being rectified, Flat 5% of the outstanding Withholding Tax, 5% per annum computed on a daily basis on the Stamp Duty payable. The VDP applies to income tax, GST, withholding tax and stamp duty. We can assist taxpayers with this application and regain a clean tax record maintained with IRAS. This is because it is made before the extended The following are important to note: It is not necessary to request re-confirmation of VDP applications. An employer is required to report its employee’s remuneration for the calendar year in an annual return Form IR8E or IR21 (if the employee ceased in the year). b) For Please make a VDP submission using the Voluntary Disclosure form by logging in via your CorpPass or SingPass. 3) IRAS Voluntary Disclosure Programme (VDP) for Withholding Tax aims to encourage payers who have failed to notify/pay IRAS the tax withheld or the tax required to be withheld; or made errors in their filings to come forward voluntarily, in a timely manner, to correct their errors for reduced penalties. The VDP applies to income tax, GST, withholding tax and stamp duty. The taxpayer must also: • Cooperate fully with IRAS to correct the errors made, and to 400% of tax undercharged / unpaid. This is because it is made before the extended YA 2020 Individual Income Tax filing deadline of 31 May 2020. after the grace period. gst@iras.gov.sg. Controlled and Prohibited Goods for Export, Controlled and Prohibited Goods for Transhipment, ASEAN Customs Declaration Document (ACDD), Application for Customs Ruling on Valuation, Singapore Duty-Paid Cigarette (SDPC) Mark, Harmonised System (HS) Classification of Goods, Application for Customs Ruling on Classification of Goods, Claiming Preferential Tariff Treatment for Dutiable Imports, Application for Customs Ruling on Origin Determination of Goods, Cargo Agent's Import Authorisation Scheme, Chemical Weapons Convention (CWC) Licence, Secure Trade Partnership (STP) & STP-Plus, Strategic Trade Scheme Bulk Permit: Export, Transhipment and Transit, Import Certificate and Delivery Verification, United Nations Security Council Sanctions, Border Enforcement of Intellectual Property Rights, e-Learning for Handling of LCL Consolidated Cargoes. (ii) GST returns for accounting period ended Mar 2019 To avoid IRAS queries, it is recommended to carry out a voluntary disclosure to IRAS. You will not need to use the HCES digital service as you are not required to present the hand-carried goods and export permit to Singapore Customs for inspection and endorsement at Changi Airport if you are exempted from the HCES. CorpPass must be used if you are making a … Data from April 2017 to Jan 2018 Voluntary Disclosure Programme (VDP) The IRAS Voluntary Disclosure Programme (VDP) aims to encourage taxpayers that have made errors in their tax returns to voluntarily come forward to correct their errors. qualifying conditions are met, For late stamping or underpayment of Stamp Duty and the The entire form is only three pages long (and even if you make a mistake filling in the fields, the system will prompt you to correct it). To support taxpayers that want to rectify past errors, but experience difficulties putting together the information during this COVID-19 period, we will be providing a one-time extension of timelines for determining whether an error was disclosed within the grace The error would Plan ahead and leave a legacy for years to come. If you are a resident of Canada and have over $100,000 CAD in Specified Foreign Property during any point in the year then you meet the basic requirements in filing the T1135. penalty, as the disclosure is made more than 1 year after the statutory filing Voluntary Disclosure Programme (VDP) When errors are made when submitting a tax return, the next best step is to rectify them. For unauthorised GST collections, email  Disclosure to the extended filing/submission deadlines announced earlier by This includes the time it will take to read instructions, gather the necessary facts and fill out the form. 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