Corporate Income Tax in Singapore

Corporate Income Tax in Singapore

In Singapore, the Inland Revenue Authority of Singapore (IRAS) is the revenue agency responsible for administering corporate income tax in Singapore. All annual tax returns are required to file here.

The annual filing deadline for paper filing Form is 30 Nov and e-Filing is 15 Dec. Filing can be done either in C-S form or in C form. Form C-S is a simplified 3-page income tax return for companies to report their income to IRAS whose annual revenue is S$5 million or less. C form is for the rest not qualified under C-S.

Since the assessment year 2010, both the local and foreign corporate bodies have been paying a flat 17% tax on their incomes in Singapore.

Compulsory e-Filing is becoming

The government of Singapore has decided to discourage Paper filing of tax returns. To put this in action it has proposed a plan to phasing out Paper filling in three years from now and replacing it with e-filling totally by 2020.

Fiscal YearMandatory e-filling by Companies
2018Whose turnover is more than $10 million in 2017
2019Whose turnover is more than $1 million in 2018

Benefits of e-Filing

Documents required for corporate income tax in Singapore

Companies that elect to use C-S form must prepare:

Documents required for tax return through C-S

Companies eligible under the file Form C must prepare:

Income Tax return e-filing in Singapore

e-Filing of return in 4 Steps

Step 1: Retrieve your company’s e-Services Access Code

Step 2: Authorize Yourself/ Third Party as an “Authorize/ Admin”

Step 3: Log in to my Tax Portal

Step 4: Submit the Completed Form C-S Online

You are encouraged to go through this e-Learning guide before e-Filing Form C-S.

There are some schemes and rebates that substantially lower corporate taxes. These are to be considered before filing your returns.

Tax schemes Singapore

Qualified corporate houses will get:

In addition, all companies including companies limited by guarantee are eligible to enjoy:

Corporate Income Tax Rebate

The government of Singapore has offered a general package of rebates for all the corporate houses to help them maintain steady growth against rising costs of doing business. This package of rebates is meant for a five years period starting from Assessment year 2013 to Assessment year 2020.  The rebates are as follows:

It is worth noting that the corporate income tax in Singapore rebate is computed on the tax payable after deducting tax set-offs.

Paper Filing Form C-S & C

Form C-S: the tax payers eligible for ITR submission in Form C-S are required to submit the same  in original with signature by 30 Nov.

Form C: Completed Form C, duly seal-sign and submit it in original together with the financial accounts either audited or un-audited, tax computations claim forms and other documents or schedules as required on or before November 30th.

To submit the Form C-S/ C and the relevant documents, send them to:

Inland Revenue Authority of Singapore
55 Newton Road
Revenue House
Singapore 307987

Save a copy or print the page for future reference.

Contact us if you like to register a new private limited company as foreign investors.

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