What is Form C-S/ Form C-S (Lite)/ Form C

Form C-S/ Form C-S (Lite)/ Form C is a Corporate Income Tax Return for your company to declare its actual income. An overview of the types of Corporate Income Tax Return is as follows:

You must ensure that the return is completed correctly and gives a full and true account of your company's income.

Pro-tip: Your company is required to file Form C-S/ Form C-S (Lite)/ Form C even if it did not receive income or is making losses.

FORM C-S

Form C-S is a simplified Corporate Income Tax Return for qualifying small companies to report their income to IRAS. There are fewer fields in Form C-S than Form C.

Form C-S is comprised of:

• A declaration statement of the company's eligibility

• Information on tax adjustments

• Information from the financial statements

If your company qualifies to file Form C-S, it is not required to file its financial statements and tax computation together with Form C-S. However, your company should prepare these documents and be ready to submit them upon IRAS’ request.

Who Can File Form C-S

Your company qualifies to file Form C-S if it:

1. Is incorporated in Singapore;

2. Has an annual revenue1 of $5 million or below

3. Only derives income taxable at the prevailing Corporate Income Tax rate of 17%2; and

4. Is not claiming any of the following in the YA:

   1. Carry-back of Current Year Capital Allowances/ Losses

   2. Group Relief

   3. Investment Allowance

   4. Foreign Tax Credit and Tax Deducted at Source

FORM C-S (Lite)

If your company qualifies to file Form C-S and has an annual revenue of $200,000 or below, you can opt to file Form C-S (Lite).

Form C-S (Lite) is a simplified version of Form C-S that requires only 6 essential fields to be completed by companies with straight-forward tax matters. Similar to Form C-S, your company is not required to file its financial statements and tax computation. However, your company should prepare these documents and be ready to submit them upon IRAS’ request.

FORM C

If your company does not qualify to file Form C-S or Form C-S (Lite), you must file Form C.

Your company is required to file its financial statements, tax computation and other supporting documents together with Form C.

If you need to help to file Form C-S, Form C-S (Lite), and Form C, feel free to contact us for a free consultation and we can work out your tax compliance.