Will I get into trouble if my actual income declared to the Inland Revenue Authority of Singapore (IRAS) in the following year is different from the estimated income which I provided via the Contribute As You Earn (CAYE) digital services?

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Accepted Answer

No, as the revenue and expenses information you provided via the Contribute As You Earn (CAYE) digital services is only an estimate of your business outlook for the year. You are still required to separately declare to the Inland Revenue Authority of Singapore (IRAS) your actual net trade income (NTI), which may differ from the estimated revenue and expenses provided for the purposes of CAYE.

This information is sourced from CPF.

Will I get into trouble if my actual income declared to the Inland Revenue Authority of Singapore (IRAS) in the following year is different from the estimated income which I provided via the Contribute As You Earn (CAYE) digital services?

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