Tax Filing Guide for Self-Employed & Freelancers in Singapore

A Complete Tax Filing Guide for Self-Employed & Freelancers in Singapore (2026)

Running your own business or freelancing in Singapore comes with freedom and flexibility, but also tax responsibilities. Whether you're a graphic designer working from home, a ride-hailing driver, or a registered sole proprietor, understanding your tax obligations is crucial.

This guide breaks down everything you need to know about filing taxes as a self-employed individual in Singapore, from determining if you need to file to claiming deductions and avoiding common mistakes.

Who Is Considered Self-Employed?

You're considered self-employed if you earn income by carrying on a trade, business, profession, or vocation independently. This includes:

• Freelancers and gig workers: Writers, designers, tutors, delivery riders, or anyone providing services without an employment contract

• Sole proprietors: Individuals with businesses registered under their name with ACRA

• Partners: Individuals in a partnership agreement, reporting their share of profits as personal income

The key difference from employment: you control how and when you work, bear business risks, and can engage multiple clients simultaneously.

Do You Need to File Taxes?

Whether you must file depends on notifications from IRAS and your income level.

If You Receive a Notification

Between January and mid-March, IRAS sends filing notifications via SMS, letter, or paper Form B/B1. If you're notified to file, you must submit your return regardless of income amount.

No-Filing Service (NFS)

Some individuals receive notification they've been selected for NFS, where IRAS pre-fills your income and tax. You don't need to file unless you want to make amendments, such as claiming additional expenses.

No Notification Received?

Use the Filing Checker tool on the IRAS website to determine if you need to file. Generally, if your annual income is below S$22,000 (after deductions) and you didn't receive notification, you may not need to file.

You can also voluntarily file if you need a Notice of Assessment for loans, government assistance, or other purposes.

Key Filing Deadlines in 2026

Missing deadlines results in penalties, so mark these dates for Year of Assessment 2026 (income earned in 2025):

• E-filing deadline: April 18, 2026

• Paper filing deadline: April 15, 2026

E-filing opens March 1, 2026. Late filing can result in fines from S$200 to S$1,000, plus a 5% penalty on any tax owed.

Which Form to Use: myTax Portal

Self-employed individuals use Form B (or B1), but you'll file through the myTax Portal using your Singpass.

The portal offers:

• Pre-filled information from reporting clients/platforms

• Direct document uploads

• Immediate tax bills for eligible filers

• Error-checking to reduce mistakes

The mobile-friendly interface makes filing convenient, with most sections clearly labeled for business income, expenses, and personal reliefs.

What to Report: 2-Line vs 4-Line Statement

Your business income must be reported using either a 2-Line or 4-Line Statement, depending on your revenue.

2-Line Statement (Revenue ≤ S$200,000)

For annual revenue of S$200,000 or less, report:

1. Revenue: Total gross income

2. Adjusted Profit/Loss: Net income after deducting allowable expenses

4-Line Statement (Revenue > S$200,000)

For revenue exceeding S$200,000, you need:

1. Revenue: Total gross income

2. Gross Profit/Loss: Revenue minus cost of goods sold

3. Allowable Business Expenses: Total deductible operating expenses

4. Adjusted Profit/Loss: Final taxable business income

 

Your adjusted profit includes tax adjustments like adding back non-deductible expenses and applying capital allowances instead of depreciation.

Keeping Proper Records

IRAS requires you to maintain full, accurate records for at least 5 years, including:

• Sales invoices and payment confirmations

• Expense receipts and invoices

• Bank statements

• Asset purchase records

• Mileage logs (for vehicle claims)

At year-end, prepare a statement of accounts consisting of:

• Profit and Loss Account: Income, expenses, and net profit/loss

• Balance Sheet: Assets, liabilities, and equity

These documents form the basis of your 2-Line or 4-Line Statement. Consider using accounting software like Xero or QuickBooks to track transactions throughout the year.

Deductible vs Non-Deductible Expenses

The golden rule: expenses must be incurred wholly and exclusively for producing business income.

Commonly Deductible Expenses

• Office rent and utilities (business portion) 

• Equipment and software 

• Professional fees (accountants, lawyers) 

• Marketing and advertising 

• Business travel and transport 

• Training and courses relevant to your business 

• Business insurance 

• Home office expenses (proportionate to space used)

Non-Deductible Expenses

• Personal expenses (groceries, personal entertainment) 

• Fines and penalties 

• Income tax 

• Personal drawings 

• Unreasonable or excessive expenses

Home office tip: If you work from home, claim a percentage of rent and utilities based on the floor area used exclusively for business. For example, if your home office is 10% of your apartment, claim 10% of relevant costs.

CPF and MediSave Obligations

Unlike employees, self-employed individuals handle their own CPF contributions.

Mandatory MediSave

If your Net Trade Income (NTI) exceeds S$6,000 annually, you must make MediSave contributions. Your NTI is your business profit after expenses.

After filing your tax return, the CPF Board calculates your obligation (6% to 9.5% of NTI, depending on age) and sends a bill around July-August. Payment is due within 30 days.

Voluntary CPF Contributions

You can make voluntary contributions to your CPF Special or Ordinary Account. These contributions:

• Provide tax relief (up to S$37,740 annually)

• Earn competitive interest rates

• Build retirement savings

Both mandatory MediSave and voluntary CPF contributions reduce your taxable income, lowering your tax bill.

How to Pay Your Taxes

After filing, IRAS issues a Notice of Assessment (NOA) showing your tax amount and payment deadline (typically one month from issuance).

Payment Options

1. One-time payment: Via internet banking, AXS, SAM kiosks, or phone banking

2. GIRO Instalment Plan: Spread payments over 12 months (interest-free) for better cash flow management. Apply through myTax Portal before receiving your NOA. Extended 24-month plans are available with approval.

If you can't pay on time, contact IRAS immediately to discuss payment arrangements. Ignoring deadlines results in a 5% penalty, plus 1% monthly interest.

Using a Tax Calculator

Before filing, estimate your tax liability using online calculators (available on the IRAS website or accounting firm sites).

Input your:

• Business revenue and expenses

• Other income sources

• Eligible personal reliefs (Earned Income Relief, CPF Relief, parent reliefs)

• Age and residency status

The calculator applies Singapore's progressive tax rates (0% to 24%) to estimate your bill. This helps you budget and avoid surprises when your NOA arrives.

Planning tip: Calculate quarterly estimates and set aside funds proportionately, especially if you have variable income.

After Filing: NOA and Objections

Reviewing Your NOA

Your NOA arrives via myTax Portal (and sometimes postal mail) from late April onwards. It shows your total income, deductions, chargeable income, and tax payable.

Review it carefully for accuracy. If you spot errors, you can file an objection within 2 months through myTax Portal. Provide clear explanations and supporting documents.

Amending Returns

If you discover mistakes after filing but before receiving your NOA, submit an amended return through myTax Portal. Proactively correcting errors is better than waiting for IRAS to discover them.

Common Mistakes to Avoid

1. Mixing personal and business expenses: Use separate bank accounts for business transactions to maintain clear boundaries.

2. Missing MediSave payment: Don't forget the CPF Board bill that arrives after tax filing. Set reminders for July-August.

3. Using wrong statement type: Revenue over S$200,000 requires a 4-Line Statement, not 2-Line.

4. Poor record-keeping: Keep all receipts and invoices. IRAS can audit your return and disallow expenses without proper documentation.

5. Forgetting personal reliefs: Claim all eligible reliefs like Earned Income Relief, CPF Relief, and dependent-related reliefs to reduce taxable income.

6. Underreporting income: IRAS has data-sharing systems to detect discrepancies. Report all income honestly to avoid penalties and prosecution.

7. Not seeking help: For complex situations (multiple income streams, partnerships, international income), consult a tax professional. The cost is far less than penalties from errors.

Conclusion

Filing taxes as a self-employed individual in Singapore is straightforward with proper preparation. Keep organized records throughout the year, understand your filing requirements, claim legitimate expenses, and meet your deadlines.

Singapore's tax system rewards compliance. By staying on top of your obligations, you avoid penalties and can use tax-efficient strategies like voluntary CPF contributions to build long-term wealth while reducing your tax bill.

If you're unsure about any aspect of your tax obligations, the IRAS website offers comprehensive resources, and their helpline can clarify specific questions. For complex situations or if you'd prefer professional support with your accounting and tax filing, Swiftly's professional accounting services in Singapore can help you stay compliant while maximizing your tax efficiency so you can focus on what matters most: growing your business and serving your clients.

Remember: your tax obligations are manageable with the right approach and support.