Singapore Pte Ltd — Corporate Income Tax Return (Form C / Form C-S)

Confirm the company is a Singapore-incorporated Pte Ltd (or Ltd), identify the Year of Assessment (YA), basis period, and check eligibility for the partial tax exemption (new start-up or normal). Establish whether the company is GST-registered and whether any related-party transactions or overseas income are present.

Obtain the company's audited or unaudited financial statements for the basis period. Reconcile the profit and loss account to confirm net accounting profit before tax. Identify any items that will require add-back or further deduction in the tax computation (depreciation, provisions, private car expenses, entertainment without business purpose).

File the Estimated Chargeable Income (ECI) with IRAS within three months of the company's financial year-end, as required under Section 63 ITA. ECI is a reasonable estimate — it does not need to be exact. Companies with annual revenue of SGD 5 million or below and zero ECI are exempt from filing ECI.

Prepare the full corporate tax computation reconciling accounting profit to chargeable income. Apply add-backs (accounting depreciation, non-deductible provisions, disallowed entertainment, private car costs), claim capital allowances under ITA Sections 19 and 19A, apply Section 14Q renovation deductions, deduct approved donations at 250%, and apply the appropriate tax exemption tier before computing tax at the 17% headline rate.

Apply the correct tax exemption to the first SGD 200,000 of chargeable income. For qualifying new start-ups (first three YAs, not an investment holding company, not a property developer), apply the start-up exemption: 75% on first SGD 100,000 and 50% on next SGD 100,000. For all other companies, apply the normal partial tax exemption: 75% on first SGD 10,000 and 50% on next SGD 190,000. The effective rate is approximately 8.5% on the first SGD 200,000 under the normal scheme.

Prepare and e-file the corporate income tax return via myTax Portal by 30 November of the YA (e-filing deadline). Companies with annual revenue of SGD 5 million or below file the simplified Form C-S (or Form C-S Lite for revenue ≤ SGD 200,000). Companies above SGD 5 million revenue, or those with complex items (foreign tax credits, capital allowances on industrial buildings, group relief), must file Form C with full tax computation and financial statements attached.

After filing, IRAS issues a Notice of Assessment (NOA). If the NOA differs from the filed return, the company has 30 days to object under Section 76 ITA. Arrange payment of any balance tax due within one month of the NOA. Ensure all books, records, and supporting documents are retained for at least five years from the end of the relevant YA, as required under Section 67 ITA.