{"id":69155,"date":"2023-12-19T13:52:50","date_gmt":"2023-12-19T05:52:50","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?page_id=69155"},"modified":"2023-12-28T16:19:31","modified_gmt":"2023-12-28T08:19:31","slug":"notice-of-assessment-noa","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/resources\/business-compendium\/notice-of-assessment-noa\/","title":{"rendered":"Notice of Assessment (NOA)"},"content":{"rendered":"

Getting to Know the Notice of Assessment (NOA)<\/h3>\n

\"NoticeThe Notice of Assessment (NOA), a key document in the realm of income tax payments in Singapore, is produced and dispatched by the Inland Revenue Authority of Singapore (IRAS) to both individuals and businesses.<\/p>\n

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So, What is the Notice of Assessment (NOA)?<\/h3>\n

Designed by the Inland Revenue Authority of Singapore, the NOA serves as the official tax invoice for individuals and registered businesses alike. It details your taxable income and the resultant tax due to be paid to IRAS.<\/p>\n

As an individual, you can expect to receive your NOA as soon as you’ve finished filing your annual income tax return. IRAS typically verifies the provided information before distributing tax invoices in both digital and paper format around the end of April.<\/p>\n

But be aware, for business income tax filings, IRAS issues four different types of Notices of Assessment:<\/p>\n

Type 1 NOA<\/h4>\n

You will receive this after your company successfully submits its Estimated Chargeable Income for the relevant tax year.<\/p>\n

Type 2 NOA<\/h4>\n

This is issued if you don\u2019t submit your company’s Estimated Chargeable Income within three months of your financial year-end, or miss the deadline for Form C and Form C-S, or understate your Estimated Chargeable Income.<\/p>\n

Type 3 NOA<\/h4>\n

This is issued once you have successfully filed Form C and Form C-S for your company.<\/p>\n

Type 4 NOA<\/h4>\n

This serves as the final notice, issued after IRAS definitively assesses your company’s taxable income and the corresponding tax amounts due. You will have two months from the issue date to lodge a formal objection, if needed.<\/p>\n

Every NOA includes your tax bill and instructions on how to make the payment. This means you’ll also find information about tax payment options and deadlines.<\/p>\n

Favored methods of payment for tax bills by IRAS include telegraphic transfer, cashier’s order, check, NETS, cash, internet banking, and GIRO. According to the deadline stipulated in the NOA, the payment should be completed within a month. A failure to do so could mean a late payment penalty of 5% on the outstanding tax.<\/p>\n

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Why is the NOA Important?<\/h3>\n

In Singapore, the income tax NOA is like an invoice. After IRAS reviews your declared income, they generate a matching tax bill with all necessary information for tax filing, including the amount due and deadlines.<\/p>\n

Interestingly, the due amount is not necessarily cast in stone. The NOA gives you a 30-day window to dispute the amount by lodging a formal objection, earmarking any discrepancies you’ve found.<\/p>\n

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How Can You Get A Copy of the NOA or Tax Bills?<\/h3>\n

The IRAS provides both hard copy and online tax bills. The digital version is available on the IRAS\u2019s myTax portal while the hard copies are mailed to businesses’ registered addresses.<\/p>\n

Remember, though, that IRAS doesn’t send all its invoices simultaneously. Beginning from the end of April, they perform assessments and send out the letters in waves.<\/p>\n

Want real-time updates on your NOA? Consider updating your contact number on the IRAS website to receive an SMS when your tax bill is available online.<\/p>\n

Here’s how you can access your NOA:<\/p>\n