Tax Return and Compliance

The chargeable income of a company for each fiscal year is based on the result of its financial year ended in the preceding fiscal year.

Each year, the taxpayer must file a return together with the audited accounts where required under the Companies Act to the Inland Revenue Authority of Singapore (IRAS) by 30 November of the YA.

An Estimated Chargeable Income (ECI) is to be filed within 3 months from the end of the financial period.

The ECI Self-Pay Installment Scheme (non-GIRO) will be discontinued with effect from 1 January 2015. All new installment plans issued thereafter will be paid through GIRO only. For companies to continue to enjoy installment plans, they will therefore need to set up a bank account in Singapore.