Guide to E-File Form C and FormC-S

If your company is operating a business or trade in Singapore you need to mandatorily report your company’s income to IRAS on a yearly basis by filing the income tax return. You can use the Form C-S/C to declare the actual income of your company. Even if your firm is making losses, it is still mandatory that you file the “Form C-S/C”. In case your company does not meet the eligibility conditions to file “Form C-S”, you will need to file “Form C” along with your tax computation, financial statements, and supporting documents. As a company owner, you will be held responsible to complete the form with all the required information and report your firm’s income accurately.

Things You Need Before E-Filing “Form C”

  • On CorpPass, you need to be authorised by an organisation as the “Approver” with regard to “Corporate Tax (Filing and Applications).
  • You need to have your CorpPass ID and password plus your organisation’s tax reference number.
  • For filing Form C, you need to download & install “Adobe Reader XI” or higher.
  • In case you’re unable to access “Form C” post Adobe Reader XI installation, you’ll need to uncheck Adobe Reader’s security setting.
  • You need to be prepared with all the required documents (soft copies) you need to submit to IRAS.
  • Ensure that the soft copy documents are in pdf format. If not, convert them to pdf file format using software convertor (e.g. PrimoPDF).
  • You need to make sure that your documents (soft copies) are in the “PDF” format. In case the soft copies aren’t in the required format, you can convert the files into the required format with the help of a software convertor.
  • Your hard copy documents need to be scanned and saved as pdf files.
  • Make sure the document images are clearly visible and ensure to use at least “11” as the font size for your documents.
  • Opt for the suggested resolution of “100dpi” black & white in case you intend to bring down the file size of your attachments.

Steps to E-File Form C

  1. Make sure you or the concerned third party have been given the authority of being an “Approver”

    Before the e-filing of “Form C”, either the third party or you need to be authorised by an organisation as the “Approver” in CorpPass for Corporate Tax (Applications and Filing).

  2. Log on to the “myTax Portal”
    • If you’re signing in as a staff member of a company:
      • Opt for “Business Tax Matters”.
      • Enter the following details – your organisation’s Tax Ref no, CorpPass user ID, and password.
    • If you choose to sign in as a tax agent of a company:
      • Choose “Client Tax Matters”.
      • Input your “Tax Agent Tax Ref no”, and your CorpPass user information (user ID & password).
  3. Make an online submission of the completed “Form C”
  4. Navigate to “Corporate Tax” on the main menu and choose “File Form C-S/C”. Pick the YA you’re initiating the filing for, succeeded by the “Form Type”.

    • Online “Form C”:
      • Fill in the required details in the form.
      • Navigate to the “Confirmation Page” to validate the accuracy of the declared information. Later, conclude the “Declaration” and input the Filer and Contact Person’s details.
      • Click on “Submit Document” and upload the required documents.
    • Form C “Upload”:
      • Finish the “Form C” (upload). Your signature is not needed for “Part V” declaration.
      • Save the completed “Form C” (upload) in your personal drive & upload the required documents to “myTax Portal”. Make sure you don’t upload a printed or a scanned copy of “Form C”.
  5. Click on the “Submit” button.
  6. Once you’ve filed Form C successfully, you will get an acknowledgement immediately.

Things You Need Before E-Filing “Form C-S”

  • Check if your company complies with the eligibility criteria for Form C-S filing.
  • Make sure your organisation has authorised you as the “Approver” in CorpPass with reference to “Corporate Tax (Applications and Filing)”.
  • You need be ready with your organisation’s tax reference number and your CorpPass login credentials (user ID and password).
  • You need to be prepared with the tax computation and financial records of your company. You can seek assistance from the “Basic Corporate Tax Calculator” for your tax computation analysis.

Steps to E-File Form C-S

  1. Check if either you or a third party has been recognised as the “Approver”
  2. An organisation will have to authorise an “Approver”. This can either be you or a third party. The “Approver” nomination has to be made in CorpPass with respect to “Corporate Tax (Applications & Filing). This authorisation has to be completed before you or the concerned third party e-files “Form C-S.

  3. Log in to “myTax Portal”
    • If you choose to log in as a company’s staff:
      • Choose “Business Tax Matters”.
      • Input your company “Tax Reference Number”, post which you’ll enter your CorpPass ID and password.
    • If you opt to log in as a company’s tax agent:
      • Opt for “Client Tax Matters”.
      • Enter your “Tax Agent Tax Reference Number”, and then your CorpPass user details (user ID and password).
  4. You need to submit the “Form C-S” online
  5. On the menu bar, click on “Corporate Tax” and opt for “File Form C-S/C”. Choose the YA you’re filing for and select “Form C-S” to start filling up the form. On completing the form, you’ll need to click on the “Confirmation Page”. Prior to clicking on the “Submit” button, consider printing or saving the confirmation page. After you’ve successfully finished filing, you’ll receive an acknowledgement instantly.

What Documents You Will Need to File Form C-S/C

As a business owner, you need to mandatorily maintain accurate records and documents related to your business transactions. To name a few, you will need documents such as accounting records, bank statements, source documents, supporting schedules, etc.

IRAS recommends you to utilise accounting software because it will help you stay compliant with all the necessary tax obligations as well as assist you with enhanced record keeping. An accounting software will help you further in validating the efficiency and effectiveness of your business operations.

When your company meets all the eligible conditions to file “Form C-S”, you need to be prepared with all the financial statements (audited/unaudited), tax calculations, backup schedules, and claim forms.

In case your company qualifies only to file “Form C”, you need to be ready with “Form IRIN 301”, a profit & loss statement in detail, financial statements (unaudited/audited), necessary claim forms, tax computation, and relevant schedules.

Financial Statements (Audited/Unaudited)

According to the Companies Act, both a company that complies with the small company criteria and an inactive company need not evaluate their financial statements for the financial years beginning from 1 July 2015. For a financial year that began prior to 1 July 2015, both exempt private firms and inactive companies who have earned a revenue of less than S$5 million need not review their financial statements.

As a company owner, if you filed your company’s complete financial statements with the Accounting and Corporate Regulatory Authority (ACRA) in the Extensive Business Reporting Language (XBRL) format, you need not file the same financial statements with IRAS.

How to Compute Tax for Assest

Tax computation will include the following details:

New Asset Addition
  1. Every asset’s purchase price and description. For a motor vehicle, its registration number needs to be stated.
  2. Assets bought on “hire purchase” conditions: Principal paid and deposit applicable to each asset during the year.
  3. Based on the Productivity and Innovation Credit (PIC) Information Technology and Automation Equipment list, mention the category under which the new asset was purchased. Let’s assume you bought a new laptop, you need to mention that you claimed it under "Data Processing and IT Equipment".
  4. Calculation of capital allowances.
Fixed Assests Sales
  1. Disposal date.
  2. A description of the disposed fixed asset.
  3. Sales proceeds.
  4. Calculation of balancing charge/balancing allowance.
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Other Documents In Relation to the Following Categories

  • Rental income
  • LIA (Land Intensification Allowance).
  • Tax Set-Offs (Unilateral Tax Credit and Double Taxation Relief).
  • Profit or loss incurred on “Sale of Property”.
  • Deduction of R&D (Research & Development) expenditure.
  • Deduction claims made under “Section 14Q” for expenses incurred on refurbishment or renovation works.
  • Directors’ fee & remuneration.
  • Extended deduction for expenditure incurred in recruitment or relocation of sources overseas (Section 14L).
  • M&A (Mergers and Acquisitions Allowance) (Section 37L).
  • Tax exemption on foreign income due to an incentive that was sanctioned by the foreign jurisdiction.
  • An expense that incurred while registering IPR (Intellectual Property Rights).
  • Profit earned by disposing ordinary shares to another organisation (Section 13Z).
  • DTDi (Double Tax Deduction for Internationalisation Scheme).
  • Exchange profit/loss.
  • Impairment loss in relation to provision for doubtful debt/bad debts.
  • Expenses related to motor vehicles.
  • Share purchase.
  • Property purchase.
  • Loss/profit on “Sale of Shares” excluding profits that are exempted under Section 13Z.
  • 1-year write-off for buses and new goods vehicles (diesel-driven).
  • Securities repurchase and lending arrangements.

These documents need to be kept ready during the time of ITR (Income Tax Return) submission. These documents need to be saved by the employer and submitted only when IRAS requests for the same.

Questions You Might Have in Relation to Form C-S E-Filing

Q. What is the due date for e-filing “Form C-S”?

A. It is 15th December. This is a 15-day extension from the due date for filing the paper “Form C-S”, which is 30th November.

Q. Which are the prefilled-fields with effect from the 2018 Year of Assessment? A. The fields that will be pre-populated include:

  • Capital allowances (unused) that are brought forward.
  • Losses (unused) that are brought forward.
  • Donations (unused) that are brought forward.
  • Approved donations of the present year.

Q. How does IRAS determine the pre-populated data?

A. The unused amounts that are brought forward in the present Year of Assessment will be pre-populated depending on the amounts that were carried forward in the previous assessment as declared by IRAS in relation to the immediate earlier Year of Assessment. This will be applicable even when the assessment made by IRAS for the immediate previous Year of Assessment is going through a query or objection.

On the contrary, in case the assessment is not finalised for the immediate earlier YA, the unutilised amounts that are brought forward in the present Year of Assessment will be pre-populated with the amounts that are carried forward as per how it was declared in the “Form C-S/C” of the immediate previous YA.

Q. Is there an option to save the draft version of the “Form C-S” during filing?

A. Yes, you’ll be able to save a draft copy. You need to click on the button “Save Draft” which is towards the bottom of the form.

Q. Is there an option to recover a copy of the “Acknowledgement Page”?

A. Yes, you can access the path given below:

Corporate Tax->View Corporate Tax Notices

You can retrieve it post the 3rd business day since submission.

Q. What is DIN (Document Identification Number)?

A. It is a unique number which is given by IRAS in order to recognise each of the income tax returns they have issued. The DIN is unique to every firm’s Form C-S/C for the specific Year of Assessment. It cannot be used by the company for another Year of Assessment. Also, it cannot be used by another firm too.

As a company owner, you will need a DIN only if you’re downloading the Form C-S/C copy and making a paper form submission to IRAS. You’ll be able to get a DIN via “View DIN” e-Service.

Questions You Might Have in Relation to Form C E-filing

Q. Is it mandatory to complete all sections of an online “Form C”?

A. In an online “Form C” every field will be pre-populated with a zero. Hence, you need to key in your details in sections which should not be updated as “zero”. You’ll be prompted by the system to key in details in case you have missed filling in your details.

Q. How can I submit my financial statements, tax computation, and other additional documents online in addition to my “Form C”?

A. Post completion of the “Form C” online, you need to click the button ‘Submit Document’ which is placed towards the bottom section of the confirmation page & upload the required documents under relevant categories.

Q. Who is eligible to make document uploads?

A. The “Approver”, as well as the “Preparer” can make document uploads. But, these documents can be submitted to IRAS only by the “Approver”.

Q. For a document upload, what is the maximum file size that is allowed?

A. For the following kind of documents, 4MB per document is the maximum file size that is permitted:

  • Tax computation & supporting schedules.
  • Tax computation (revised) & supporting schedules.
  • Financial statements (unaudited/audited).
  • The concerned form for recording respective party transactions.

For declaring a WDA claim for IPR (Section 19B) & a claim form for R&D, 2MB per document is the permitted maximum file size.

Q. How can I check if I have submitted my document successfully?

A. The page “Submit Document” will display the status for your document upload:

  • If the status is pending, it means that your document wasn’t uploaded successfully for submission.
  • If the status reads as “pending approval”, your document is pending for the Approver’s review.
  • When the status shows as “processing”, the document is in the process of getting transmitted to IRAS.
  • When the status corresponds to “received”, your document was successfully submitted to the Inland Revenue Authority of Singapore.

Q. Can I check the upload status of my tax computation and financial statements?

A. Yes, you can check the status on the 3rd business day post submission. You need to access the following path:

Corporate Tax -> View Corporate Tax Filing Status in myTax Portal

  • If the status shows as “ready to file”, it implies that the document hasn’t been uploaded for submission.
  • When the status reads as “received”, your document has been submitted to IRAS.
  • If the status corresponds to “not required”, it implies that you need not submit any document.

Q. What to do in case I submitted an incorrect document?

A. You will need to send an email through “myTax Mail” with the details given below:

  • Date on which submission was made.
  • Tax reference number of the company.
  • Tax reference number of the Approver.
  • The type of document you’ve submitted erroneously.
  • A version of the correct document (in PDF format). The document should be less than the allowed maximum file size (2MB or 4MB).
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