By Leow Si Wan

CLOSE to 12,000 taxpayers have taken advantage of a new scheme by the Inland Revenue Authority of Singapore (Iras) which allows them to defer income tax instalments for three months, from May to July this year.

The Defer Giro option, introduced in the 2009 Budget, is available to about 500,000 taxpayers who pay their income tax by monthly Giro deductions.

It is the first time Iras has offered a deferment scheme aimed at easing taxpayers' cash flow.

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