IRAS Co-Creation Grant

To facilitate this desired outcome, the IRAS Co-Creation Grant supports software developers in the development of innovative solutions that:

• Integrates tax seamlessly into digital solutions commonly used by taxpayer and/or Harnesses IRAS’ APIs

• To develop a digital solution that enables seamless integration of record keeping, tax preparation and filing capabilities into taxpayers’ existing systems and life events.

• The solution can be an app, a web-based dashboard, or equivalent that facilitates tax filing preparation or tax management. To qualify for the grant, the proposed idea should be a new solution that is currently not available in the market. Successful applicants will be given the opportunity to work with a subject matter expert from IRAS, who will provide insights from IRAS’ perspective as a tax administrator.

Your proposed solution must address at least one of the challenges below:

• Managing tax matters using Business Software

• Maintaining proper and accurate business records

• Understanding tax obligations and eligible reliefs

Funding

Up to $30,000

Grant Duration

  • Development to be completed within 6 months.
  • A longer development period can be proposed, with reasons, for IRAS’ consideration.

Costs Covered by Grant:

• Development cost (including manpower cost)

• Equipment – hardware, software and network costs

• Material costs

• Professional services fees

• Application fees for Intellectual Property Rights

• Marketing and Publicity Expenses

• Training cost, and

• Any other costs on a case-by-case basis

Eligibility

Terms and Conditions Successful applicants:

• Have to be a registered entity in Singapore (Company or Limited Liability Partnership) upon approval of grant

• Have to provide monthly updates on your progress to IRAS by email, onsite presentations or demonstrations

• May be required to showcase your funded solutions at IRAS’ events.

Types Of Challenges To Address

Managing tax affairs using Business software

Most of the current business systems (e.g. accounting, payroll and sales systems) do not include tax preparation features and filing tools.

How might tax requirements be included in the design of digital solutions or in-house systems used by taxpayers to help them prepare tax returns during the tax filing period and ensure records and computations are in order?

This could mean automating the consolidation and reconciliation of data distributed across departments or different enterprise systems/applications;

empowering employees who manage company tax matters to prepare accurate and error-free tax filings while reducing manual processes.

Beneficiaries

  • Small and Medium Enterprises
  • Self-employed taxpayers

Maintaining proper and accurate business records

Taxpayers need to collect and store information on their business transactions, to claim deductions and business expenses in their Income Tax Returns. However, this may mean maintaining spreadsheets and/or a stack of papers and receipts to sort through during tax filing season for taxpayers/ businesses.

What solutions could help them capture the relevant information quickly, conveniently and dynamically, and easily prepare the required tax returns?

Beneficiaries

  • Small and Medium Enterprises
  • Self-employed taxpayers

Understanding tax obligations and eligible reliefs

The IRAS website is a rich repository of information but it may be challenging for taxpayers to interpret tax laws and understand their tax obligations (including deductions and rebates).

What solutions could help taxpayers better understand their tax obligations and complete their tax returns accurately and in a timely manner?

For businesses:

This could be customised or personalised content, proactive and timely alerts / notifications and other services that take into account taxpayers’ unique needs (including language and applicable tax concessions, rebates or reliefs)

For individual taxpayers

Taxpayers can claim different reliefs at various life stages, for example, child relief, parent relief, foreign maid levy, etc. There could also be changes to tax obligations due to the purchase or renting out of a property.

What solutions could provide taxpayers the relevant information that will help them understand their eligibility for the various reliefs, or obligations, and alert them to claiming the reliefs or other actions?

Beneficiaries:

  • Small and Medium Enterprises
  • Self-employed taxpayers
  • Individual taxpayers
Back to Inland Revenue Authority of Singapore (IRAS) Grants