Director fees reporting
Do director fees go in IR8A?
The situation
Yes. Director fees are reported as employment income.
The law
- Income Tax Act 1947: employer returns (IR8A, AIS): Employers report employees' income to IRAS by 1 March each year
What it means for you
Fees approved at AGM are reported for the year approved. Director fees are generally taxed in the year they are approved at the AGM, not the year of the work. Keep AGM minutes as evidence of the approval date, and include non-resident directors, whose fees may also need withholding tax.
What to do
- Check approval date.
- Report.
- Submit.
- Keep minutes.
We can do this for youEmployer year-end reporting: IR8A and AIS: SGD 300