Form C-S/ C

Form C-S/ C — is a simplified report on your company income tax that needs to be e-filed with IRAS. The form is 3 pages long and the deadline for submitting it is 30th November. If your business makes less than S$5 million, Form C-S is enough, otherwise, you need Form C. Any accounting company in Singapore can prepare the Form and file it for you.

What documents do I need to prepare for Form C-S / C?

Before submitting Form C-S / C:

the audited or unaudited financial statements of the company
tax computation together with supporting schedules
other claim forms if applicable Together with filing Form C-S / C:
a declaration statement that shows that your company is eligible for this simplified procedure, as well as provides useful tax and financial data

Form C summary

Form C (or income tax return) is a form you have to file to declare your income for the year of assessment (YA). It must be submitted annually to the Inland Revenue Authority of Singapore (IRAS). Form C should be filled in by a person who has a perfect understanding of Singapore tax rules.

Which companies qualify to File Form C-S?

Your business has to meet all of the following requirements:

The company is registered in Singapore
Your annual revenue is S$5 million or less
The income you make is taxed at the corporate tax rate of 17%
You are not claiming capital allowances or losses, group relief, investment allowance, foreign tax credit, or tax deducted at source in the current Assessment Year.

What is Form C-S (Lite)?

Form C-S (Lite) was recently introduced and made available for all companies to file their respective tax obligations from 2020.

Form C-S (Lite) is a simplified income tax return. This form requires only 6 important fields, unlike the usual Form C-S, which has 18 essential fields to be entered. As a result, this form will be perfect for even smaller companies, with straight-forward tax matters. The goal here is to make tax filing easier and faster for smaller companies.

Q&A

What is the difference between Form C and Form C-S?

In a nutshell, Form C-S is just a simplified version of Form C for smaller companies.

Can I e-file Form C?

E-filing Form C is a simple process which consists of 3 steps.

Step 1: Ensure that you have been authorised as an "Approver"
Step 2: Log in to myTax Portal
Step 3: Submit the Completed Form C Online to IRAS

For more details visit IRAS website.