Income Tax – Revised Requirements for Filing Form C-S


As announced by the 2nd Minister for Finance on 7 Mar 2017, IRAS will increase the annual revenue threshold for filing Form C-S from the current $1 million to $5 million to reduce compliance cost on businesses.

In view of the above, with effect from YA 2017,  companies will qualify to file Form C-S if they meet all of the following conditions:

  1. The company must be incorporated in Singapore;
  2. The company must have an annual revenue of $5 million or below
  3. The company only derives income taxable at the prevailing corporate tax rate of 17%; and
  4. The company is not claiming any of the following in the YA:
    1. Carry-back of Current Year Capital Allowances/ Losses
    2. Group Relief
    3. Investment Allowance
    4. Foreign Tax Credit  and Tax Deducted at Source

If you have any questions, please contact support@whm-consulting.com.

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