Simplified Tax filing for companies - Form C-S in YA 2018

Who needs to file Form C? Form C or Form CS?

All private limited companies carrying on a trade or business in Singapore need to file form C. Exempt Private Limited Companies with revenue of less than 5 million in financial year ending in 2017 will have to file Form CS. .

All companies must report their income even if the company is making a loss. The company can authorize any person to sign the form C or form CS, however the director or principal officer is still responsible for the company's tax affairs. There are penalties for late filing or not filing as well as penalties for filing a wrong return.

Tax exemption scheme for new startup companies

To support entrepreneurship and local enterprises to grow, a newly incorporated company that meets the qualifying conditions can claim for full tax exemption on the first $100,000 of normal chargeable income for each of its first three consecutive FAs. A further 50% exemption will be given on the next $200,000 of the normal chargeble income starting from YA 2008. Partial tax exemption will be given if the company does not meet the qualifying conditions.

Qualifying conditions

• be incorporated and tax resident in Singapore.
• have no more than 20 shareholders throughout the Year of Assessment.
• All the shareholders are individuals.

You can now submit your form C or form CS online

Form C in Singapore e-filing procedure

Download the form C offline application from

Prepare the form C package

• complete the tax computation template
• attach the tax computation
• attach the company's audited or unaudited accounts
• complete form C and other relevant forms

Upload the form C package for submission to IRAS via Mytax portal.

Annual Form C and Form CS submission deadline is 30th November. Just give us a call at 9489-9429 now if you need help to prepare form CS for your company, the charge can be as low as $50 ...............

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