In a major step towards reducing compliance costs and raise the efficiency of the country’s tax collection system, the Inland Revenue Authority of Singapore (IRAS), the city-state’s principal tax collecting body, has decided to extend corporate tax e-filing facilities to all Singapore-registered companies irrespective of their annual revenue, with effect from 2015.
Every year, all registered companies in Singapore that have received either the Form C or Form C-S package, have till November 30 to file their corporate tax returns even if they hadn’t carried out any business in the said year-of-assessment. Notably, smaller companies that e-File Form C-S have up till December 15 to do so.
Over the past two years, Form C-S has gained accolades and recognition for its role in improving productivity for small companies and contributing to greater efficiency. IRAS even won the Best Pro-Enterprise Initiative Award (2013- Bronze) this year for the initiative.
Read more about Tax E-filing for all companies at Rikvin.com.
