ECI stands for Estimated Chargeable Income. It refers to the estimated taxable revenue for the past year. All companies in Singapore are required to file their ECI within three months from the end of their financial year-end.

The current corporate tax rate in Singapore is 17%, but if you're an SME, there are plenty of CIT incentives and schemes available to help you lower your effective tax rate. To ensure you don't miss out on any tax reliefs for your company, it's best to consult with our experts!

Corporate tax is like the entrance fee that companies pay to hang out in Singapore. It's basically a tax on their profits earned both locally and overseas.

It's all about the chargeable income, baby! Chargeable income is what's left after deducting allowable expenses from taxable revenue. The corporate tax rate is then applied to this amount to determine how much of the profits companies owe in taxes.

Besides funding public services and infrastructure, corporate taxes promote fairness by ensuring that businesses contribute their fair share towards improving the local economy. The next time you see a shiny new building or a well-maintained park, you can thank those corporate taxes for making it happen!

Singapore offers some great CIT incentives like partial or full exemptions for new startups, investment allowances for those investing in qualifying assets, and more. These incentives are designed to encourage entrepreneurship, attract foreign investment, and support local businesses' growth. It's like getting free drinks at the party just for being there!

If you're a non-resident and you own a Singapore company, you won't be taxed on the income that you remit out of Singapore. However, if you have any income that is sourced in Singapore, such as rental income or services provided in Singapore, then you'll be subject to tax on that income. To prevent uncertainties and avoid missing any new regulatory requirements, it's always best to consult with a professional like ATHR.

To file for corporate tax in Singapore, you'll need to submit an annual tax return (Form C-S/ C) to the Inland Revenue Authority of Singapore (IRAS). Make sure to keep accurate records of your financial transactions and expenses throughout the year so that you can complete your tax return accurately. With the help of our experts doing the legwork for you, everything should be a piece of cake!

The deadline for filing your Form C-S/ C is usually November 30th following your financial year end. But if you're e-filing, then you have until December 15th—so don't panic just yet! Our tax professionals are always up-to-date with any changes to these IRAS deadlines and can always remind you about them. With Aptvise, you'll never have to miss filing your dues again!

Failing to file your Form C-S/ C by the deadline nets you a late filing fee ranging from $200 up to $1,000 depending on how late your submission is to IRAS. Messed-up documents or omissions in your tax return due to negligence can also result in some hefty penalties from ACRA. But fear not—we've automated standard processes to manage these risks! Our industry experts are here to prepare and file your taxes so you barely have to lift a finger yourself!

Singapore companies may enjoy tax reliefs in the form of various tax exemption schemes. New startup companies could apply for a full tax exemption for their first 3 consecutive YAs (subject to conditions set by IRAS). Thereafter, all companies earning normal chargeable income are eligible for a 75% exemption on the first S$10,000 they make followed by a further 50% exemption on the next S$190,000 of their taxable income.

With our streamlined online platform, keeping track of all your tax deadlines and corporate compliance obligations is a breeze. Our Singapore Chartered tax professionals help you know how much tax you have to pay every year (deductibles, tax rebates and incentives) to avoid possible fines/penalties, or additional enquires from the Inland Revenue of Singapore (IRAS).

Through Corppass, our local experts assist you with filing your ECI and Corporate Income Tax Returns on the IRAS online portal. ATHR also helps clients apply for tax rebates and schemes available for businesses in Singapore.

ECI stands for Estimated Chargeable Income. It refers to the estimated taxable revenue for the past year. All companies in Singapore are required to file their ECI within three months from the end of their financial year-end.

The filing of Form C or Form C-S (known as an income tax return) is simply an income declaration for the year of assessment (YA). All Singapore companies must submit tax returns to the Inland Revenue Authority of Singapore (IRAS) on or before 30 November annually.- Form C-S Lite – This type is suitable for companies whose annual revenue is not more than S$200K, and they meet other qualifying conditions.- Form C-S – This type is for those companies with S$5 million of annual revenue or below.- Form C. This type is suitable for all companies and is necessary if your company does not meet the conditions for the previously mentioned documents.

Each company within a group is a single corporate legal entity although it may be related to each other through common shareholding. For income tax purposes, the tax liability of each company within the same group is determined separately. For companies belonging to a group, they could keep trade losses for deduction against its future assessable income; or deduct them against another group company’s assessable income in the same year under the group relief system.From YA 2003, the group relief system allows a company (“transferor”) (Form GR-A) to transfer its loss items of a YA to another company (“claimant”) (Form GR-B) for deduction against the latter’s assessable income for the same YA, assuming satisfying conditions are met.

IRAS stands for Inland Revenue Authority of Singapore. It is a statutory board under the Ministry of Finance that collects taxes on behalf of the Singapore Government. IRAS ensures that individuals and businesses pay their taxes accurately and on time.

The Notice of Assessment, or NOA in short, is a document prepared by the Inland Revenue Authority of Singapore to act as the official tax bill for both individuals and registered companies. It essentially spells out your chargeable income plus the corresponding tax amount that’s payable to the IRAS.

Fixed assets suffer 'wear and tear' and depreciate over time. Depreciation accounted for in financial statements is not tax-deductible.Your company can instead claim written-down allowances, aka capital allowances for the wear and tear of qualifying fixed assets bought and used in its trade or business.Claiming capital allowances over a period of time is also known as 'writing off the asset'.

Year of Assessment refers to the year in which income tax is calculated and charged as defined by the IRAS for individuals and companies. The chargeable income and the associated income tax are determined on a preceding year basis.