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Singapore Income Tax Compliance and Tax Return / Filing Deadlines - Presented by Tax Accountants

by Tax Accountants on Jun 30, 2011

FOR COMPANIES

Estimated Chargeable Income
Estimated Chargeable Income is an estimate of a company's chargeable income for a Year of Assessment (YA). IRAS requires each company to submit an ECI for the Year of Assessment within three months after the financial year ends.

Accounting Records
All Singapore Company must prepare the accounts which must consist of Profit and Loss Account, Balance Sheet, Cash Flow Statement, and Equity Statement in accordance with the Singapore Financial reporting standard (SFRS). The accounting records must be kept for 5 years.

Singapore Tax Return Filing
The filing/submission deadline for corporate income tax return is 30 November 2011. Documents to be submitted are audited or unaudited Report, Form C/Income Tax Return and tax computation. The tax authority may impose a composition fee on the company if the documents are not filed by 30 November 2011.

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