Filing of Tax Returns
in Singapore

Corporate Tax Filing Deadline

Corporate Tax Return Filing

The filing deadline for corporate income tax return is 31 October. Documents to be submitted are

• Tax computation
• Director's Report
• Form C

Audited or Unaudited Accounts

Singapore companies are required to file audited or unaudited accounts. If you are an exempt private company with less than S$5 million of turnover, you may file an unaudited account.

Form C

The Form C has to be submitted by July every year for the preceding FYE unless an ECI had been submitted within three months after the end of its accounting period which will then give the company an extension until December.

Directors' Report

Per Singapore Companies Act, all companies are required to submit a Directors' Report. The report consists of unaudited financial statements such as balance sheet and income statements; supporting notes and disclosure of significant accounting policies applied by the company; disclosure of company's operations; and shareholders and directors' interests. At Rikvin, our accounts experts can help you draft a Directors' Report that is concise yet comprehensive in addressing the key elements.

Individual Tax Filing Deadline

For more information on Personal Income Tax, please go to Singapore Personal Income Tax

Estimated Chargeable Income

What is Estimated Chargeable Income?

Estimated Chargeable Income or ECI is an estimate of a company's chargeable income for a Year of Assessment (YA). All companies in Singapore are required to submit an ECI within three months from the end of its financial year. It is mandatory to file an ECI regardless of the amount of income. A company with a zero income will file a 'NIL' ECI.

What documents are required for filing ECI?

To file an ECI, you will need submit the following:

• Financial Year End or FYE
• Estimated Revenue
• Estimated Profits or Chargeable Income after deductible expenses

What are the benefits of early submission of an ECI?

IRAS provides the benefit of paying your taxes in installments. To take advantage of this benefit, you need to file your taxes by the stipulated deadlines:

What if I don't file?

If your company does not submit an ECI within three months from the end of its financial year, IRAS may issue a Notice of Assessment (NOA) based on an estimation of your company’s income. If you do not agree with our estimated assessment, you must object in writing within 30 days from the date of the NOA. Otherwise, the estimated assessment will be treated as final, even if the actual income based on your Form C and accounts submitted subsequently is lower than the estimates. You will be responsible for the payment of the estimated assessment or risk further penalties or legal consequences.

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