Starting from Year of Assessment (YA) 2028, the Inland Revenue Authority of Singapore (IRAS) will expand Mandatory Income Submission (MIS) to participating platform operators, including Ryde.
This guide explains what MIS means, how it affects your income tax filing, and what you need to know about your tax obligations.
1. When does MIS take effect?
MIS will be expanded from Year of Assessment (YA) 2028 onwards.
2. Does MIS mean I will pay more income tax?
No. MIS does not change how your income tax is calculated.
You will continue to be taxed based on your actual taxable income under Singapore's progressive income tax system.
3. Do I still need to file my income tax return?
It depends on the notification you receive from IRAS.
There are three possible notifications:
- Direct Notice of Assessment (D-NOA): You do not need to file a tax return. Your tax bill will be issued from mid-March.
- No-Filing Service (NFS): You do not need to file a tax return if your information is correct. Your tax bill will be issued from end-April.
- File Your Tax Return: You must review your pre-filled income information and submit your tax return by 18 April.
4. What if I drive or deliver for multiple platforms?
Your income from multiple participating operators will be consolidated and pre-filled in your Income Tax Return.
If you also earn income from an operator that is not participating in MIS, you must declare that additional income separately.
5. Can I still claim business expenses?
Yes. You may choose either of the following methods:
- Fixed Expense Deduction Ratio (FEDR): A simplified method where eligible business expenses are automatically deducted based on the applicable ratio.
- Actual Business Expenses: You may claim your actual deductible business expenses instead, subject to proper records and supporting documents.
6. Is FEDR compulsory?
No. FEDR is optional.
You may choose to claim your actual deductible business expenses instead.
If you claim actual expenses, you must retain the relevant business records and supporting documents for five years.
7. What if my pre-filled income is incorrect?
Contact your platform operator to seek clarification.
If any revision is required, you may amend the pre-filled income in your Income Tax Return and submit it by 18 April.
8. Will I still need to declare other income?
Yes. You remain responsible for declaring any additional income that is not submitted by participating operators under MIS.
9. How do I check whether I need to file a tax return?
You can use the IRAS Filing Checker to check whether you are required to file a tax return.
If you do not receive a filing notification, you may still need to file if, in the previous year:
- Your annual net profit as a self-employed person exceeds $6,000; or
- Your total annual income, including net profit, exceeds $22,000.
10. Where can I find more information?
For more information, visit the official IRAS websites:
- MIS Information: https://go.gov.sg/iras-prefilling
- Filing Checker: https://go.gov.sg/filing-checker
- Tax Estimator: https://go.gov.sg/pw-tax-estimator
Important Reminder
MIS simplifies income reporting by allowing participating platform operators to submit income information directly to IRAS. However, you remain responsible for