Singapore Tax Agency Updates Guidance on Individual Income Tax Obligations of Platform Workers

The Singaporean Inland Revenue Authority March 10 updated guidance on the individual income tax obligations of platform workers. Updated topics include that: 1) platform income must be reported as trade or business income, not salary, and is subject to the tax; 2) platform workers must file returns from March 1 to April 18 annually for previous year income and ensure any pre-filled information is accurate; 3) income is reported using a two-line or four-line statement, depending on whether income is up to or exceeds S$200,000 (US$156,948), respectively; 4) a return is required if a notification or paper tax return was ...