Scope and source transition
This FAQ explains electronic refunds for GST, starting 3 January 2022. 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 business UEN without a suffix, or the sole proprietor’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.
GST routing and sole proprietors
Separate GST and CIT company-owned GIRO accounts mean GST refund uses GST GIRO; if only CIT GIRO exists, it can receive GST refunds. PayNow Corporate uses bare UEN, without the optional three-character suffix. A sole proprietor’s PayNow refund uses personal NRIC/FIN, even when the business has UEN PayNow; apply for GST GIRO with the business account to receive refunds there instead. Statements show GST followed by the tax reference for GIRO; PayNow also prefixes an IRAS internal system number. ASGD, ITR or GSTN references cannot use PayNow Corporate, normally a UEN of eight to nine characters ending with a letter; use own-name GIRO or TT. Credits without setup offset future GST and balance refunds follow setup; a director’s account cannot receive them.
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 ↗