Filing Corporate Tax Returns
All companies, including those with no business activities or those in a loss position, are required to file their Corporate Income Tax Returns(Form C-S C) by 30 Nov, or 15 Dec if they file online.
Compulsory e-Filing of Corporate Income Tax returns started Year of Assessment(YA) 2017 for companies with revenue of more than $10 million. Implemented in phases, e-Filing of tax returns will be compulsory for companies with revenue exceeding $1 million in YA 2018 from next year and for all companies by 2020.
220,000 companies are required to file their Corporate Income Tax Returns(Form C-S/ C) for YA 2018. They must set up their CorpPass account to e-File their tax returns at myTax Portal.
To-date, about 70% of companies are CorpPass-ready. Companies that have not set up their CorpPass accounts are advised to do so early in order to e-File their tax returns on time.
The documents to be submitted are as follow:
• Tax computation and supporting schedules
• Audited or Unaudited accounts*
• Form C-S/ Form C