Potential consequences
An incorrect return without reasonable excuse or through negligence can attract up to 200% of undercharged tax, a fine up to S$5,000 and/or imprisonment up to three years. Wilful evasion can attract up to 400%, a fine up to S$50,000 and/or imprisonment up to five years. These are stated maximum consequences, not an automatic outcome for every error.
Circumstances and voluntary disclosure
IRAS considers repeat errors, prior advice, record keeping, compliance history, audit cooperation and steps to improve future compliance. Qualifying voluntary disclosures within the one-year grace period from the statutory filing date can receive a penalty waiver. After that, the page describes an incremental 5% penalty for each back year the disclosure is late. Historical examples use their own filing dates; apply the current programme conditions to a new disclosure.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official source ↗