Scope and source transition
This FAQ explains electronic refunds for Individual Income Tax, starting 12 August 2024. Deposits avoid cheque loss, replacement and handling, and credit the bank account directly. The dates describe this PDF edition rather than a new future rollout.
GIRO and PayNow priority
If eligible own-name GIRO and PayNow arrangements use different accounts, the refund goes to GIRO. Otherwise PayNow uses the individual’s NRIC/FIN; registering with the bank does not require separate notification to IRAS. A mobile-number PayNow proxy is not accepted for these tax refunds.
No setup or a third-party payment account
Set up an eligible own-name GIRO account or the correct PayNow proxy. Without a refund arrangement, credits remain in the tax account; the FAQ does not promise late-refund interest where setup is missing or an account closure causes failure. A third party’s account used to pay tax does not qualify to receive the taxpayer’s refund. The account-holder name must match the taxpayer.
Overseas and foreign-currency accounts
Use a Telegraphic Transfer request under Tax Refunds via Telegraphic Transfer on IRAS’ refunds page for an overseas account or a Singapore foreign-currency account. Taxpayers bear related transfer costs; exchange-rate movements can affect the sum received. GIRO and PayNow avoid cheque-handling costs.
Changing or closing accounts
Changing GIRO requires a new application. Re-register the appropriate PayNow identifier with the new own-name account. Where the FAQ instructs, deregister the old bank’s proxy first. Put the replacement in place before closing the old account; otherwise a refund fails and IRAS sends a letter to apply for electronic refund.
Individuals, departure and assistance
Unrefunded credits offset future IIT liabilities and the balance is refunded after setup. Before leaving Singapore, a foreign worker expecting refunds should retain an active local account linked to FIN; the PDF’s departure paragraph also mentions UEN, while its operative individual-payment answers specify NRIC/FIN. Do not substitute a relative’s account. ASGD or ITR references are not supported PayNow identifiers; use GIRO or own-name TT. This 2024-transition edition offers case-by-case cheque assistance to individuals needing help with digital transactions; it is not a general cheque entitlement under later cessation policies.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗