Corporate Tax Return Filing for Singapore businesses
Timely and effortless Tax Filing (Form C/C-S) with Sleek’s dedicated Accountants
Filing Form C/C-S is mandatory in Singapore businesses.
As an employer you need to:
-
All Singapore companies must e-File their Corporate Income Tax Returns with IRAS using Form C or Form C-S. -
The filing deadline is by 30 November and no extensions are granted. -
Tax return covers income earned in the preceding financial year (Year of Assessment YA). -
Form C-S are for companies with lower annual revenue ($5million or below) taxed at the prevailing corporate tax rate of 17% (i.e. no concessional tax rate) and not claiming loss carry back relief, group relief, investment allowance and foreign tax credit, while others must submit Form C with financial statements.
Hassle-free and timely Income Tax Return filing with Sleek
Dedicated and qualified accountants
Expert accountants ensure your books are always up-to-date, taxes, management reports and financial statements are ready and filed timely.
Timely and error-free Income Tax Return filing
Timely Tax Return filing for your business so it remains compliant, and avoids any penalties.
All documents in one place, on the cloud
Cloud-based document management system for centralized and easy access to all documents
Transparent all inclusive pricing
Transparent all-inclusive pricing that covers all your business needs, avoiding surprises and penalties.
Online bookkeeping on Sleekbooks
Proprietary cloud bookkeeping platform built for small businesses so you don’t need to pay separately for expensive platforms.
Corporate Tax Return filing is offered as a part of Sleek’s Accounting Plans..
Pricing plans for every company size
Save time and money with automation and our dedicated accountant services. Choose the plan that suits you, based on your average monthly expenses.
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What our customers say about us
Eiji Han Shimizu
Owner,
Sumimasen Pte Ltd
Sleek is the perfect choice for anyone looking to run a business in Singapore from abroad. Their services have completely exceeded my expectations and I am extremely happy with their work. Compared to the previous agent we were using for our small business registration, filing, and accounting, Sleek is a world of difference.
Anton Blockx
Owner,
Board of Innovation APAC Pte Ltd
Besides being the accounting partner of our Singapore entity they are also able to support us with almost any financial, tax or legal questions we have. On top they are always able to direct us to the right team who in turn help is very professional and swift way.
Arnaud Rastoul
Owner,
Tetrixx Pte Ltd
Since last year, we have been working with Sleek for Corp sec, Accounting and Payroll. The team is very responsive and helpful in finding and implementing the best options for our company.
Damien de Rosny
Owner,
Aero Energy Services Pte Ltd.
During the last 3 years, I have incorporated 3 companies with Sleek. It has always been a very smooth process. I am also working with Sleek for the accounting of my companies. It is very easy to use even if you are not an accounting expert.
FAQs
Here are some common questions from our customers.
If you have any additional questions, please don’t hesitate to contact us.
Form C and Form C-S are both corporate tax returns to be e-filed with IRAS on an annual basis.
The Form C-S being a simplified version of the Form C, contains fewer fields to fill. The Form C-S mainly comprises of the following:
- A declaration statement of the company’s eligibility to file the Form C-S;
- Information on tax adjustments (i.e. adjustments for non-taxable income and non-deductible expenses);
- Information from the financial accounts
What are the requirements for a company to qualify to file for Form C-S?
Companies qualify to file for Form C-S if all of the following conditions are met:
1. The company must be incorporated in Singapore;
2. The company must have an annual revenue* of S$ 5 million or less;
3. The company only derives income taxable at the prevailing corporate tax rate of 17%**;
4. The company is not claiming any of the following in the Year of Assessment:
– Carry-back of current year capital allowances / losses;
– Group relief;
– Investment allowance;
– Foreign tax credit and tax deducted at source
What happens if you don’t comply with the filing requirements?
Neglecting annual returns and tax filing can have serious consequences for businesses. ACRA has revised its penalty framework, imposing fines for late filing. Late filing penalties of S$300 and S$600 are imposed for missing deadlines. Failure to file annual tax returns can result in an estimated Notice of Assessment (NOA) with higher taxes. Paying the estimated tax within one month is mandatory. Non-compliance may lead to legal action. Simplify the process by engaging our experienced accounting secretary services for hassle-free filing.
Can I switch to Sleek from another accounting firm?
100%. Our goal is to make the transition seamless for you. We’ll directly communicate with your current accounting service provider, assume responsibility for your financial documents, and conduct a thorough audit to ensure compliance. We’ll address any outstanding matters with HMRC, organize historical data, and meticulously prepare and file the required reports. Moreover, we provide ongoing guidance on relevant tax exemptions, enabling you to optimize your tax strategy.
I would like to move to Sleek but my accounts are messy. What should I do?
If your accounts are messy, during onboarding, our team will address it by doing an initial accounting review, using Sleek’s in-house accounting software, SleekBooks, in order to help you identify any issues and to propose the best corrective measures. This process is known as a ‘Reconstruction of Accounts’ and is a necessary basis to ensure that when our clients join Sleek your business and money accounts are in a position which is in accordance with the Accounting Standards of Singapore. After that, our accountant will welcome you onboard with our hassle-free digital solutions and accounting services.
Leave us your email through the form above or phone us to speak to an accountant or sales for a free consultation on the price of our package or fee for our accounting services today.
How are Sleek’s accounting and tax plans priced?
Sleek’s accounting plans are priced according to the average monthly expenses of a company and based on a financial year period (not calendar year). A company’s FYE can be found publicly from ACRA’s website or on the First Directors Board Resolution. They can also search their UEN or Company Name on the Open Gov website.
We monitor a client’s monthly expenses over a financial year period and will adjust the final plan price based on the actual expenses resulting in a potential credit or debit based on the initial plan taken. FAQs on our Accounting Expenses can be found here.