There are 2 types of corporate income tax forms, namely Form C-S and Form C. Even if your company makes losses, you will still need to file the corporate income tax form.
Form C-S is a shorter form that is easier to complete and IRAS no longer issues paper copies of this form. A company qualifies to submit Form C-S if it:
- is incorporated in Singapore
- has an annual revenue of not more than S$1 million
- derives only income taxable at the prevailing corporate tax rate of 17% (Please refer to IRAS website for the latest corporate tax rate)
and does not need to claim any of the following:
- Carry-back of current year capital allowances/losses
- Group relief
- Investment allowance
- Research & Development Tax Allowance
- Foreign Tax Credit and Tax deducted at source
IRAS will send your company a Form C-S or Form C filing package in April every year.
New companies will receive their package only 2 years after its year of incorporation. However, if your company has closed its first set of accounts in the year of incorporation, please ask IRAS to send a Form C-S/C filing package by May of the following year.
We can assist with:
- Reviewing your Company's statutory financial statements for appropriate tax adjustments for income tax filing purposes as well as assist to request for Form C/ C-S (if required)
- Preparing and submitting the tax computation with the supporting schedules to IRAS.