GIRO is the preferred method of payment as it allows you to pay your tax by instalments. Singapore-registered companies can enjoy up to 10 interest-free monthly instalments when they file their Estimated Chargeable Income (ECI) electronically within three months from their financial year end.
You can sign up for GIRO by clicking here (to insert hyperlink no.1 below).
However, if the company is unable to pay its taxes via GIRO, it can make the payment through various modes below:
- Internet banking
- Cash/ NETS at any Singapore Post Branch
- Cheque/ Cashier’s Order
- Telegraphic Transfer
You may refer to IRAS’ website for more details on the payment of corporate income taxes