How to File Corporate Tax in Singapore: Complete Step-by-Step Guide
How to File Corporate Tax in Singapore: Complete Step-by-Step Guide
Filing corporate income tax in Singapore requires strict adherence to Inland Revenue Authority of Singapore (IRAS) guidelines. Singapore operates on a preceding year basis, meaning tax filed in Year of Assessment (YA) 2024 covers the financial year ending in 2023.
Overview of Corporate Tax Rates & Exemption Schemes
Singapore levies a flat 17% corporate income tax rate on chargeable income (taxable revenues minus allowable expenses and statutory concessions).
Key Tax Reliefs Available:
Partial Tax Exemption (PTE): Applies to all qualifying companies automatically.
Tax Exemption Scheme for New Start-ups: Available for eligible new Singapore-incorporated companies during their first three consecutive YAs.
Step-by-Step Corporate Tax Filing Process
[1. File ECI] ──> [2. Submit Corporate Tax Return] ──> [3. Receive NOA] ──> [4. Pay Tax]
(Within 3 Months) (By 30 November) (By May 31) (Within 30 Days)
Step 1: File Estimated Chargeable Income (ECI)
The ECI is an estimate of a company’s taxable income after allowable expenses.
Deadline: Within 3 months from the end of the financial year.
Exemptions from ECI Filing: Companies with an annual revenue of S$5 million or below AND zero ECI for the YA do not need to file. Other exempt entities include foreign universities, approved CPF unit trusts, and REITs.
Important Note: Do not manually deduct partial tax exemptions or start-up exemptions when computing your ECI; IRAS calculates these concessions automatically on the portal.
Step 2: Submit Annual Corporate Tax Return
Companies must declare actual revenues via the IRAS myTax Portal using one of three form types:
Filing Form | Annual Revenue Limit | Requirements |
Form C-S (Lite) | S$200,000 or below | Simplified form; no financial statements or tax computations required at submission. |
Form C-S | S$5 million or below | Streamlined filing for Singapore-incorporated firms taxed at 17% without complex claims. |
Form C | Exceeds S$5 million | Standard filing; mandatory submission of financial statements, tax computation, and supporting schedules. |
Filing Deadline: 30 November of the Year of Assessment.
Access Requirements: An appointed Corppass Approver role, your company UEN, and Singpass credentials.
Step 3: Receive Notice of Assessment (NOA)
IRAS reviews the filings and issues an official Notice of Assessment (NOA)—typically by 31 May of the following year. This document serves as the official statement of final tax liabilities.
Step 4: Make Tax Payment
Tax payments must be completed within 30 days from the date of the NOA. Available payment modes include:
GIRO: Preferred method; offers up to 10 interest-free monthly installments.
PayNow QR / Internet Banking / AXS
Telegraphic Transfer (for overseas payments)
Frequently Asked Questions (FAQs)
Do inactive or non-resident companies need to file corporate tax in Singapore?
Yes. All companies incorporated in Singapore must file corporate tax returns annually regardless of tax residency or active status, unless IRAS has granted a formal waiver.
What is the deadline for filing corporate income tax in Singapore?
The main corporate tax return deadline (Form C-S / Form C-S Lite / Form C) is 30 November of each Year of Assessment.
Can companies submit hardcopy corporate tax forms?
No. Mandatory e-Filing applies to all Singapore corporate tax submissions via the IRAS myTax Portal. Hardcopy submissions are not accepted.
How Bestar Singapore Can Help: Complete Guide to Singapore Corporate Tax Filing
How to File Corporate Tax in Singapore: Complete Step-by-Step Guide
Filing corporate income tax in Singapore requires strict compliance with the Inland Revenue Authority of Singapore (IRAS) guidelines. Singapore taxes companies on a preceding year basis—tax filed in Year of Assessment (YA) 2026 covers profits earned during the financial year ending in 2025.
Whether managing a local SME or an expanding multinational, navigating tax categories, exemptions, and digital portals (Corppass / myTax Portal) can be time-consuming. Bestar Singapore provides specialized corporate tax filing, advisory, and tax computation services to keep your business fully compliant while optimizing tax relief.
Key Steps in the Singapore Corporate Tax Filing Process
[1. File ECI] ────────> [2. Submit Tax Return] ───> [3. Receive NOA] ───> [4. Settle Payment]
(Within 3 Months) (By 30 November) (By May 31) (Within 30 Days)
1. Filing Estimated Chargeable Income (ECI)
The ECI is an estimated calculation of a company’s taxable profits after deducting allowable expenses.
Timeline: Within 3 months from the end of your financial year end (FYE).
ECI Filing Waiver: Your company is exempt if annual revenue is S$5 million or below AND estimated chargeable income is S$0 for the YA.
How Bestar Helps: Bestar pre-calculates your current year revenue to determine whether your business qualifies for the waiver or files your ECI accurately to unlock up to 10 months of interest-free GIRO payment installments.
2. Submitting the Annual Corporate Income Tax Return
Companies must declare their actual financial figures using the appropriate form type via the IRAS myTax Portal by 30 November:
Form Type | Revenue Threshold | Filing Requirements |
Form C-S (Lite) | S$200,000 or below | 6 essential financial fields; no financial statement attachments required. |
Form C-S | S$5 million or below | Streamlined submission; tax computation prepared without submitting balance sheets unless requested. |
Form C | Exceeds S$5 million | Full filing; requires audited or un-audited financial statements, tax computations, and supporting schedules. |
3. Receiving the Notice of Assessment (NOA)
IRAS reviews the submitted forms and issues a Notice of Assessment (NOA)—the official notice detailing final tax payable—usually by May 31 of the following year.
4. Tax Payment
Tax must be settled within 30 days of receiving the NOA via GIRO, PayNow QR, Internet Banking, or AXS.
How Bestar Singapore Optimizes Your Corporate Tax Strategy
Bestar’s team of Chartered Accountants and Accredited Tax Specialists relieve companies of the administrative burden of regulatory compliance:
Maximizing Start-Up & Partial Tax Exemptions: Bestar audits your shareholding structure to qualify for the Start-Up Tax Exemption (SUTE) during your first three YAs or transitions older firms to the Partial Tax Exemption (PTE) scheme.
Capital Allowance Claims: Bestar identifies eligible fixed asset purchases (IT equipment, machinery, office assets) to maximize capital allowance claims and minimize chargeable income.
CIT Rebates & Grants Application: Bestar ensures structural integration of applicable Corporate Income Tax (CIT) rebates announced in annual Singapore budget statements.
GST & Cross-Border Advisory: From tracking the S$1 million compulsory GST registration threshold to cross-border transfer pricing, Bestar manages full-suite back-office accounting.
Frequently Asked Questions (FAQs)
Do inactive or zero-revenue companies in Singapore need to file taxes?
Yes. Every Singapore-incorporated company—including dormant entities—must file an annual corporate tax return (Form C-S / Form C-S Lite / Form C) unless granted a formal waiver by IRAS.
Can my business submit paper forms to IRAS?
No. Paper submissions are not accepted. E-Filing via the IRAS myTax Portal using Corppass authorization is strictly mandatory for all Singapore companies.
What happens if a company misses the 30 November filing deadline?
Missing the statutory deadline can result in composition fines up to S$5,000, estimated tax assessments raised directly by IRAS, or legal summonses issued to company directors.
Ready to Simplify Your Singapore Corporate Tax Filing?
Avoid penalties, ensure full IRAS compliance, and maximize your tax relief with Bestar Singapore. Our team of Chartered Accountants and Accredited Tax Advisors manages everything—from ECI preparation to tax computations and Form C-S/C filings.
Get a Free Tax Assessment: Evaluate your eligibility for the ECI filing waiver and start-up tax exemptions.
Ensure Zero-Error Compliance: Timely digital submissions via Corppass and myTax Portal.
Maximize Your Tax Savings: Optimize capital allowances and statutory tax rebates.
Contact Bestar Singapore Today
Email: admin@bestar-asia.com
Call / WhatsApp: +65 6299 4730 / +65 8836 4489
Website: www.bestar-sg.com
Office Location: 23 New Industrial Road, #04-08, Singapore 536209
Scheduling a Tax Consultation with Bestar Singapore to Discuss your Company's Tax Filing Needs
We would be glad to arrange a tax advisory session to review your company's corporate tax filing requirements and ensure all available relief schemes are fully utilized.
To help us prepare and route your request appropriately, please share a few brief details:
Company Name & Financial Year-End (FYE):
Key Areas of Focus: (e.g., ECI filing, Form C-S/Form C preparation, Start-Up Tax Exemptions, or prior-year adjustments)
Preferred Timeline: Your target dates or times for an initial alignment call.
How to Connect Directly
You can send your details directly to our team via:
Email: admin@bestar-asia.com
Primary Office: Solstice Business Center, 23 New Industrial Road, Singapore 536209
Once we receive your background details, our administrative team will coordinate a suitable time for the consultation, outline the engagement scope, and send a calendar invitation.
Looking forward to assisting your business!
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