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IRAS:Simplified Income Tax Filing for Small Companies
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The Inland Revenue Authority of Singapore (IRAS) has introduced two new initiatives that would simplify income tax filing for small companies with an annual turnover not exceeding $1 million.
The two initiatives and their implementation dates are:
a) Waiver of Estimated Chargeable Income (ECI) filing if ECI is estimated to be nil, from Year of Assessment (YA) 2013 for companies with accounting year ending October 2012 or after.
b) New simplified income tax form, known as Form C-S, with effect from this year, YA2012.
No ECI Filing for Small Companies
Please Click Here for more information on the two initiatives.
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