Form B vs Form B1: Which Personal Tax Return Do You File in Singapore?
Form B vs Form B1 comes down to one question: did you earn self-employment income? Form B1 is the Income Tax Return for Singapore tax residents without it, such as employees, company directors and landlords. Form B is for the self-employed, including sole proprietors, freelancers, commission agents and private-hire drivers. Non-residents file Form M. All of them are due by 18 April.
This guide covers Year of Assessment (YA) 2027, which taxes income earned in 2026. Amounts are in Singapore dollars and the rules are as at November 2026.
Online, the two forms are one pre-filled e-return. What decides your bill, and any penalty, is declaring every source of income in the right section, on time.
Key takeaways
- Form B1 is for tax residents without self-employment income, Form B for the self-employed, Form M for non-residents and Form P for partnerships.
- File by 18 April every year, online or on paper. YA2027 returns are due by 18 April 2027.
- You must file if your 2026 total income exceeded $22,000, your net self-employment profit exceeded $6,000, or IRAS asked you to.
- Revenue above $200,000 needs the four-line statement, and $500,000 or more also needs certified accounts.
- Self-employed Singapore Citizens and PRs pay MediSave once net trade income exceeds $6,000.
Table of Contents
- Form B vs Form B1: What Is the Difference?
- Do You Need to File a Tax Return at All?
- When Is the Personal Income Tax Filing Deadline?
- How to Report Self-Employed Income in Form B
- How Do You Report Rental Income?
- Do Freelancers Need to Pay MediSave?
- Worked Example: Tax and MediSave for a Freelancer
- What Happens If You File or Pay Late?
- Common Mistakes on Form B and Form B1
- When Should You Get Help With Your Tax Return?
- Frequently Asked Questions
- Official Sources
Form B vs Form B1: What Is the Difference?
Both are versions of the individual Income Tax Return, and the dividing line is self-employment income. Form B1 still exists: for YA2026, IRAS sent paper Form B1 to tax-resident individuals, Form B to the self-employed and Form M to non-residents. Form B carries the full trade section; paper Form B1 has only a 'Trade, Business, Profession or Vocation' item in Appendix 1 (Other Income), so a Form B1 recipient who starts a small trade can still declare it.
| Return | Who files it | Due |
|---|---|---|
| Form B1 | Tax resident individuals, typically without self-employment income | 18 April |
| Form B | Self-employed individuals | 18 April |
| Form M | Non-residents with Singapore income | 18 April |
| Form P | A partnership, e-filed by its precedent partner from 1 February | 18 April |
| Form C-S, C-S (Lite) or C | A company, not an individual | 30 November |
Online, the difference almost disappears. More than 98% of individuals e-file, and IRAS's step-by-step guides treat "Form B/B1" as one return with sections for employment income, trade income, other income such as rent, and reliefs.
Which Form Fits Your Situation?
Residency comes first: Citizens and PRs who normally live here are resident, while foreigners generally need 183 days of stay or work in the year. Non-residents file Form M. For residents:
| Your situation | Return | Watch out for |
|---|---|---|
| Employee, salary only | Form B1, often on the No-Filing Service | Check the pre-filled figures |
| Director paid by your own company | Form B1 | One-tier dividends are not taxable |
| Employee with freelance side income | Form B | Declare it as trade income even if IRAS sent Form B1; MediSave above $6,000 of net trade income |
| Sole proprietor or freelancer | Form B | 2-line or four-line statement |
| Partner | Form B or B1 for your share, plus Form P for the firm | Pre-filled if Form P is e-filed by 28 February |
| Private-hire or taxi driver, delivery rider, commission agent | Form B | Fixed expense deduction ratios |
| Landlord without a business | Form B1 | 15% deemed expenses |
A company files its own return, and you are taxed on the salary or director's fees it pays you, as our guide to director salary vs dividends explains.
Do You Need to File a Tax Return at All?
You must file for YA2027 if, in 2026, your total income exceeded $22,000, your net self-employment profit exceeded $6,000, or you were a non-resident with Singapore income not subject to withholding tax. You must also file if IRAS asks you to by letter, form or SMS. Otherwise, you generally do not need to.
Many people above the thresholds are on the No-Filing Service (NFS). IRAS expected over 2 million for YA2026, about 1 million of whom received a Direct Notice of Assessment (D-NOA), a bill issued without filing. On NFS you check the pre-filled income and reliefs by 18 April and file only to fix something; no extension is available.
The self-employed reach NFS only in narrow cases, such as pre-filled commission income of $50,000 or less or private-hire or taxi driving income. The trap: if you started freelancing in 2026 but are still on NFS or receive a D-NOA, your new income is missing, and IRAS's filing FAQ says the duty to file applies even without a notification. Submit a return by 18 April, or use 'Amend Tax Bill' within 30 days of the D-NOA; IRAS says you have a legal duty to report an inaccurate bill.
When Is the Personal Income Tax Filing Deadline?
The personal income tax filing deadline in Singapore is 18 April each year. Since YA2025 it also covers paper Forms B, B1, M and P, replacing the old 15 April paper date. Key dates for YA2027:
| When | What happens |
|---|---|
| 31 December 2026 | Last day for SRS contributions, CPF cash top-ups and MediSave payments to count for YA2027 relief |
| February to March 2027 | Filing notices by SMS, email or letter, if IRAS keeps its 2026 timetable |
| 28 February 2027 | Form P e-filed by this date is pre-filled into partners' returns |
| 1 March 2027 | Filing opens, as it did on 1 March 2026 |
| 18 April 2027 | Filing due date, plus up to 14 days if IRAS approves an extension |
| Mid-March to end September | Tax bills issued, if the 2026 pattern repeats: D-NOA bills from mid-March, most others from end April |
| 1 month after the bill's date | Tax due, unless you pay by GIRO |
| 30 days after the bill's date | Last day to use 'Amend Tax Bill' |
Extensions come through the 'Apply for Extension of Time to File' digital service, except on NFS, after a summons or for earlier years. GIRO gives up to 12 interest-free monthly instalments if approved before the due date.
How to Report Self-Employed Income in Form B
A sole proprietorship has no return of its own. Sole proprietor tax filing in Singapore means declaring the business in section 2 of your personal return, 'Trade, Business, Profession or Vocation':
- On myTax Portal, log in to 'Personal Tax' with Singpass and select 'Individuals' > 'File Income Tax Return'.
- In section 2, click 'ADD NEW' and choose 'Sole-Proprietorship/ Self-Employment Income'.
- Say whether your own business is registered with ACRA, then enter its name, nature and accounting period.
- Enter the 2-line or four-line statement, depending on revenue.
- If revenue was $500,000 or more, upload the certified accounts and a computation of adjusted profit or loss as one attachment on the 'Consolidated Statement' page. If they are not ready, IRAS lets you submit first and send them by myTax Mail, by 18 April.
- Check your reliefs, click 'Submit' on the Consolidated Statement page and keep the acknowledgement page: without it, nothing was filed. Saved drafts are deleted after 7 days, and you can re-file once by 18 April.
| Revenue before deductions | Statement | Accounts |
|---|---|---|
| $200,000 or less | 2-line: revenue and adjusted profit or loss | Prepare and keep |
| More than $200,000, below $500,000 | Four-line | Prepare and keep |
| $500,000 or more | Four-line | Upload a certified profit and loss account and balance sheet, plus a computation of adjusted profit or loss |
"Certified" means signed by you as true and correct. Keep records for at least 5 years.
What Is the Four-Line Statement?
IRAS's four-line statement summarises your accounts once revenue exceeds $200,000 (the threshold was $100,000 before YA2021). Example (hypothetical): Daniel's sole proprietorship sells and installs office furniture. In 2026 it billed $340,000, the furniture it sold cost $210,000, and rent, a part-time assistant's wages and employer CPF, advertising and van running costs totalled $52,000.
| Line | What goes in it | Daniel |
|---|---|---|
| 1. Revenue | Everything billed or sold, before deductions | $340,000 |
| 2. Gross profit/loss | Revenue less cost of goods sold (equal to revenue for a pure service business) | $130,000 |
| 3. Allowable business expenses | Costs incurred wholly and exclusively to earn the income | $52,000 |
| 4. Adjusted profit/loss | Line 2 less line 3, calculated by myTax Portal | $78,000 |
Line 3 is where errors happen. Leave out drawings, your own insurance and medical fees, income tax, travel to and from home, private car costs and capital purchases such as the van, which get capital allowances instead. Our guide to deductible business expenses covers the grey areas.
Fixed expense deduction ratios. Instead of actual expenses, private-hire and taxi drivers can deduct 60% of gross driving income. Delivery workers with gross delivery income of $50,000 or less can deduct 20%, 35% or 60% depending on the vehicle (not cars, lorries or trucks), and commission agents with $50,000 or less of gross commission-type income can deduct 25%. The choice covers all income of that type for the year.
How Do You Report Rental Income?
Rent goes in section 3, 'Other Income', as 'Rent from property', in Form B1 or B, and it is often pre-filled from last year. For residential property, choose one method for all your tenanted residential properties that YA:
- Deemed: 15% of gross rent, plus the actual mortgage interest. You keep only the interest documents.
- Actual: every deductible cost, with records kept for at least 5 years. It wins only when costs other than interest exceed 15% of the rent, and it is the only option for non-residential property.
Example (hypothetical): you and your spouse own a condominium 50:50 and let it at $4,000 a month for all of 2026, paying $12,000 of mortgage interest. Net rent is $48,000 − $7,200 − $12,000 = $28,800, and your half, $14,400, goes in your return, whoever collected the rent.
Rent is taxable when it is due and payable, not when received. The 15% stands in for every deductible cost other than mortgage interest, such as property tax and repairs, and actual expenses are prorated if you let the property for part of the year or only a room. A rental loss cannot reduce tax on your salary or be carried forward, though it can offset rent from another property in the same year if all your properties are let at market rates.
Do Freelancers Need to Pay MediSave?
Yes, if you are a self-employed Singapore Citizen or PR with net trade income (NTI) above $6,000, meaning trade income less allowable expenses, capital allowances and trade losses as assessed by IRAS. Foreigners do not contribute, and from work year 2025 the platform earnings that operators declare to CPF Board are excluded.
After IRAS assesses your NTI, CPF Board sends a Notice of CPF Contributions for Self-employed Persons, payable within 30 days; instalment plans are available. Rates for 2026 income (YA2027), for non-pensioners, by age at 1 January:
| Net trade income | Below 35 | 35 to below 45 | 45 to below 50 | 50 and above |
|---|---|---|---|---|
| Above $6,000 to $12,000 | 4% | 4.5% | 5% | 5.25% |
| Above $12,000 to $18,000 | Phased in to 8% | Phased in to 9% | Phased in to 10% | Phased in to 10.5% |
| Above $18,000 | 8% | 9% | 10% | 10.5% |
| Maximum a year | $7,680 | $8,640 | $9,600 | $10,080 |
In the phase-in band, someone below 35 pays $480 plus 16% of NTI above $12,000, which is $960 on NTI of $15,000. For 2025 income (YA2026) the rates were the same, with caps of $7,104, $7,992, $8,880 and $9,324.
Compulsory MediSave gets full tax relief, but from YA2026 the relief follows the year you pay: MediSave paid in 2026 is relieved in YA2027, automatically. Relief on voluntary contributions is capped at the lowest of 37% of assessed NTI, $37,740 and the amount paid.
Worked Example: Tax and MediSave for a Freelancer
Reliefs cut chargeable income, up to $80,000 a year in total. The main ones for the self-employed and landlords:
- Earned Income Relief: $1,000 below 55, $6,000 from 55 to 59 and $8,000 from 60. It is automatic, but rent is not earned income.
- CPF relief: compulsory MediSave paid in the previous year, in full.
- SRS relief: contributions made by 31 December, up to $15,300 for Citizens and PRs or $35,700 for foreigners.
- CPF Cash Top-up Relief: up to $8,000 for yourself and $8,000 for family members.
- Family reliefs, if eligible, such as spouse, qualifying child, working mother's child, parent and NSman relief.
Course Fees Relief ended from YA2026. No Personal Income Tax Rebate has been announced for YA2026 or YA2027, so the example below has none.
Example (hypothetical): Mei, 32, a Singapore Citizen, left her job at the end of 2025 and freelanced as a UX designer under her own name throughout 2026.
| Item | Amount |
|---|---|
| Fees billed in 2026 (revenue) | $96,000 |
| Less software, co-working desk, advertising and business phone line | ($14,000) |
| Adjusted profit, which is her net trade income | $82,000 |
| Less Earned Income Relief | ($1,000) |
| Less SRS relief on $5,000 paid in December 2026 | ($5,000) |
| CPF relief (no CPF or MediSave paid in 2026) | $0 |
| Chargeable income | $76,000 |
| Tax: $550 on the first $40,000, plus 7% of $36,000 | $3,070 |
| MediSave: 8% of $82,000, under the $7,680 cap | $6,560 |
Mei files Form B with a 2-line statement by 18 April 2027. In 2027 she pays $9,630, just under 12% of her profit: the tax within 1 month of her bill (or by GIRO), then the MediSave on CPF Board's notice. That MediSave is relieved in YA2028, which is why her first freelance year has no CPF relief. Resident rates run from 0% on the first $20,000 to 24% above $1 million.
What Happens If You File or Pay Late?
Not filing on time is an offence, and IRAS escalates:
| Situation | What IRAS can do |
|---|---|
| Return not filed by the due date | Issue an estimated Notice of Assessment, payable within 1 month even if you object; you must still file |
| Return still outstanding | Offer to compound the offence for up to $5,000 per offence, or issue a court summons |
| Conviction | Fine of up to $5,000 per offence |
| 2 or more years unfiled | On conviction, also a penalty of twice the tax assessed, and up to 6 months' jail if the penalty or fine is unpaid |
| Tax unpaid 1 month after the bill | 5% late payment penalty |
| Still unpaid 60 days after that penalty | Extra 1% per completed month, capped at 12% of the unpaid tax; agents such as your bank or employer, or a Travel Restriction Order |
Pay a composition offer (GIRO is not accepted) and file the return by the date in the offer, because paying alone does not close the matter. A waiver appeal through the 'Appeal for Penalty Waiver' digital service is considered only if you filed by that date and filed on time for the past 2 years.
Spotted income missing from a return you already filed? A qualifying voluntary disclosure within 1 year of the filing deadline attracts no penalty, so a YA2026 error disclosed by 18 April 2027 can avoid one. After that, the reduced penalty is 5% of the tax undercharged for each year it is late.
Common Mistakes on Form B and Form B1
- Declaring freelance or commission income as employment or 'other' income. IRAS lists this as a common error: it belongs under 'Trade, Business, Profession or Vocation', where expenses are deductible.
- Accepting NFS or a D-NOA when you have new income. IRAS can only pre-fill what it knows about.
- Entering profit as revenue. Revenue before deductions decides which statement you use and whether accounts must be uploaded.
- Claiming private or capital costs as expenses, such as drawings, home-to-work travel, private car costs or equipment.
- Declaring the wrong share of rent. Joint owners are taxed on their legal share of the property, not on who received the money.
- Expecting a rental loss to cut salary tax. It cannot, although a genuine trade loss can.
- Forgetting MediSave. The CPF notice arrives after the tax bill and is due within 30 days.
When Should You Get Help With Your Tax Return?
An employee on NFS with correct pre-filled figures, or a freelancer with a simple 2-line statement, can rely on IRAS's guides and need not pay anyone. Help is worth it when:
- revenue passes $200,000, or nears $500,000 and the certified accounts that come with it;
- you combine trade income, rent and a partnership share;
- you have missed a return or received an estimated assessment, a composition offer or a summons;
- you employ staff and must handle CPF and Form IR8A by 1 March (see our IR8A and Auto-Inclusion Scheme guide); or
- profits are growing and you are weighing sole proprietorship vs Pte Ltd tax before you incorporate a company.
Tax Filing SG is run by ex-Big 4 Singapore Chartered Accountants (ISCA). We keep bookkeeping and accounts current, prepare the return, and quote once we have reviewed your case. Talk to us well before 18 April.
Frequently Asked Questions
What is the difference between Form B and Form B1?
Both are versions of Singapore's individual Income Tax Return. Form B is for the self-employed, such as sole proprietors and freelancers. Form B1 is for tax residents without self-employment income, such as employees and landlords. Both are still issued and both are due by 18 April, while non-residents file Form M.
Do I need to file Form B if I am a sole proprietor?
Yes, if your net profit exceeded $6,000, your total income exceeded $22,000, or IRAS asked you to file. A sole proprietorship has no return of its own: you declare its revenue and adjusted profit in your personal return, the profit is taxed at personal rates, and MediSave applies above $6,000 of net trade income.
I received a Form B1 notice but started freelancing. What should I do?
Declare the income anyway. Online, Form B and Form B1 are one return with a Trade, Business, Profession or Vocation section, and paper Form B1 has the same item in Appendix 1. On the No-Filing Service, submit a return by 18 April. If you received a Direct NOA, use Amend Tax Bill within 30 days.
Can a loss from my side business reduce the tax on my salary?
Yes, if it is a genuine trade loss. Trade losses and capital allowances can be set against other income in the same Year of Assessment, including salary. Any balance can be carried forward, or up to $100,000 carried back one year by election. Rental losses are different: they cannot be set against salary.
Which form does a foreigner working in Singapore file?
It depends on tax residency, not nationality. A foreigner who stayed or worked in Singapore for at least 183 days in 2026 is generally resident for YA2027 and files Form B1, or Form B if self-employed. Non-residents file Form M, and their employment income is taxed at 15% or the resident rates, whichever gives more tax.
Is the SME Cash Grant 2026 taxable for sole proprietors?
Yes. A sole proprietor with no local employees gets a flat $500 if the owner is a Singapore Citizen or PR whose net trade income for YA2025 was $100,000 or less. No application is needed, and payments start from 2 November 2026. IRAS says it includes the taxable grant automatically for Form B filers.
Official Sources
- IRAS: Individuals required to file tax
- IRAS: Filing a paper Income Tax Return
- IRAS: Filing responsibilities of self-employed persons
- IRAS: Income from property rented out
- IRAS: CPF relief for the self-employed
- IRAS: Late filing of individual income tax returns
- CPF Board: Saving as a self-employed person
- CPF Board: MediSave rates for self-employed persons, 2026 (PDF)
Not sure whether you file Form B or Form B1?
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About Tax Filing SG — We are a Singapore accounting practice run by ex-Big 4 Singapore Chartered Accountants (ISCA). We handle accounting, corporate tax, GST and company secretarial work for Singapore SMEs, including overdue and late filings.
Last updated: 9 November 2026. This article is general information based on IRAS and ACRA guidance as at November 2026, not advice for your specific situation. Rules, rates and deadlines change, so check the official sources above or speak to us before acting.