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Singapore imposes a flat Corporate Income Tax rate of 17% on the chargeable income of both local and foreign companies. This guide provides a streamlined overview of your corporate tax obligations for the Year of Assessment (YA) 2025, including key filing deadlines, requirements for new companies, and practical compliance advice.
1. Corporate Tax Framework in Singapore
What Qualifies as a Company?
For tax purposes, a company includes:
- A business incorporated under the Companies Act in Singapore (e.g. Pte Ltd or Ltd)
- A foreign company registered in Singapore (e.g. a Singapore branch)
- A company incorporated outside Singapore
Sole proprietorships and partnerships are not considered companies and follow separate tax rules.
Understanding “Year of Assessment” (YA)
Singapore’s tax system follows a preceding year basis:
- Income earned in the financial year (basis period) is taxed in the following calendar year (YA).
- Example: Income from FY ending 31 Dec 2024 → Taxed in YA 2025.
Important: Companies can choose their own financial year end, but once chosen, it must be consistently applied and updated via BizFile if changed.
2. Mandatory Tax Filing Requirements
All companies must file two key tax returns annually (unless exempt):
| Return Type | Description | Deadline |
|---|---|---|
| Estimated Chargeable Income (ECI) | Estimate of taxable profits | Within 3 months after end of financial year |
| Form C-S / C-S (Lite) / C | Actual tax computation and income details | 30 November 2025 |
Even if the company is making a loss, the Form C-S/C must still be submitted unless exempted.
3. Filing Responsibilities for Newly Incorporated Companies
First ECI Filing
- Companies will receive their first ECI notification in the year after incorporation.
- If your first financial year ends within the year of incorporation, you may need to file earlier, even without a notification.
Example:
Incorporated: 10 Jul 2023
FY ends: 31 Dec 2023
→ ECI for YA 2024 must be filed by 31 Mar 2024
First Form C-S / C Filing
- Typically, the first Form C-S/C filing is required in the second year after incorporation.
- You must file even without receiving a notification if business activity started or income was earned.
Example:
Incorporated: 10 Jul 2023
Earned income in 2023, FY ends 31 Dec 2023
→ File Form C-S/C for YA 2024 by 30 Nov 2024
4. Filing Criteria for Form C-S / C-S (Lite) / Form C
| Form Type | Eligibility Criteria |
|---|---|
| Form C-S (Lite) | – Annual revenue ≤ S$200,000 – Simple tax affairs (no foreign tax credit, group relief, etc.) |
| Form C-S | – Incorporated in Singapore – Annual revenue ≤ S$5 million – Only Singapore-sourced income – Claiming basic deductions (no complex items) |
| Form C | – Does not meet Form C-S criteria – Must include full tax computations and financials |
All forms are to be submitted via IRAS myTax Portal.
5. Common Questions
Q: Is ECI still required if I made a loss?
Yes—unless you qualify for ECI waiver, which applies if:
- Annual revenue ≤ S$5 million and
- Estimated chargeable income is Nil
Q: Do I still file if the company is dormant?
Yes—unless IRAS has granted a waiver for Form C-S/C.
Q: Does filing the ACRA Annual Return count as tax filing?
No. IRAS and ACRA are separate. Filing ACRA’s annual return does not exempt you from filing Form C-S/C.
6. Recordkeeping Requirements
All companies must maintain proper accounting and business records for at least 5 years from the YA.
Examples include:
- Invoices and receipts
- Bank statements
- Contracts and agreements
- Ledgers and accounting records
Failure to maintain records may lead to penalties or audit issues.
7. Determining Your First Year of Assessment (YA)
| Scenario | Accounts Period | First YA |
|---|---|---|
| FY < 12 months | 1 Jul 2023 – 31 Dec 2023 | YA 2024 |
| FY = 12 months | 1 Jul 2023 – 30 Jun 2024 | YA 2025 |
| FY > 12 months | 1 Jul 2023 – 31 Dec 2024 | YA 2024 & YA 2025 (apportioned) |
IRAS may require income to be split over multiple YAs if your first financial period exceeds 12 months.
8. IRAS Tools & Support
IRAS provides several helpful tools and guides for businesses:
- Basic Corporate Income Tax Calculator
- New Company Start-Up Kit
- e-Learning for Form C-S
- Guides to file ECI and Form C-S/C
You are not required to hire a tax agent, though you may do so for complex cases.
Summary Checklist (YA 2025)
| Task | Deadline |
|---|---|
| File ECI (unless exempt) | Within 3 months after FY end |
| File Form C-S / C | 30 November 2025 |
| Maintain proper records | Keep for at least 5 years |
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