Form CS/ Form CS (Lite)/ Form C: Singapore Corporate Income Tax Return

Form CS is a simplified corporate income tax return for eligible corporations with fewer information fields than Form C.

Conditions for submitting Form CS

Businesses may submit Form CS if they meet all of the following conditions:

• Established in Singapore;
• Annual turnover of SGD 5 million or less;
• Only income is taxable at the current corporate tax rate of 17%;
• No special tax exemptions or reductions required such as: loss carryforward, group tax reduction, investment tax exemption, foreign tax credit, etc. 

From Year of Assessment (YA) 2020, dormant companies are no longer required to complete the Related Party Transaction Reporting Form, even if the transaction value exceeds SGD 15 million. The company can either submit Form CS or the Dormant Company Form.

Note: 

Form CS should not be filed if the company has income that is exempt from tax or subject to preferential tax rates, such as when the company enjoys tax incentives. However, this condition does not apply in the following cases, where the company has:

• One-tier tax exempt Singapore dividends
• Foreign sourced income is exempt from tax under Section 13(8) of the Income Tax Act 1947

If your company is eligible to file Form CS and has an annual turnover of less than SGD 200,000, you can choose to file Form CS (Lite).

Form CS (Lite) is a simpler version of Form CS, requiring only 6 basic information fields, suitable for companies with simple tax issues.

Similar to Form CS, Enterprises do not need to submit financial statements and tax calculations but must be prepared to provide them when requested by IRAS.

Businesses that are not eligible to submit Form CS or Form CS (Lite) must submit Form C. When submitting Form C, Businesses are required to attach:

• Financial report.
• Tax spreadsheet.
• Other supporting documents as required by IRAS.

• Confirm that the business meets the requirements to submit Form CS or CS (Lite) or Form C.
• Make sure you have been authorized in Corppass to file taxes.
• Prepare your Singpass and UEN (Enterprise Identification Number).

(1) For filing Form CS/ Form CS (Lite) Tax Return

Companies submitting Form CS/ Form CS (Lite) need to prepare:

• Audited/unaudited financial statements.
• Tax tables and supporting schedules.
• Declaration for claiming depreciation of intellectual property under Section 19B of the Income Tax Act 1947 (PDF, 93KB) (if applicable).
• Other supporting documents.

These documents must be retained and submitted only upon request by the Inland Revenue Authority of Singapore (IRAS), except for the declaration claiming depreciation of intellectual property, which must be submitted together with Form CS/ Form CS (Lite).

Audited/unaudited financial statements: Dormant companies and companies qualifying as “small companies” are not required to have their financial statements audited under the Companies Act 1967.

(2) For filing Form C Tax Return

Companies filing Form C need to prepare:

• Audited/unaudited financial statements.
• Tax tables and supporting schedules.
• Form IRIN 301 (Additional Information About Income and Deductions).
• Detailed profit and loss report.
• Other related request forms: Group Relief Form, Research & Development (R&D) Incentive Request Form.
• Adjusted tax returns for previous assessment years (only applicable if the company claims a refund due to Loss Carry-Back Relief and/or declares unreported income from previous years).
• Declaration for claiming depreciation of intellectual property under Section 19B of the Income Tax Act 1947 (if applicable).
• Other supporting documents.

• Visit mytax.iras.gov.sg.
• Fill in Form CS/ Form CS (Lite)/ Form C as instructed.
• Check and confirm before submitting.

If there is any unclear information, the Enterprise should contact GLA for detailed advice and support in preparing sufficient documents and certificates in accordance with regulations when submitting corporate income tax declarations to the Singapore Tax Department. 

All registered businesses Singapore company registration, whether active or not, are required to file an annual tax return with IRAS.

• Form CS: For businesses with turnover ≤ 5 million SGD, no requirement to submit accompanying financial statements.
• Form CS (Lite): A simpler version of Form CS, for businesses with turnover ≤ SGD 200.000.
• Form C: For businesses not eligible to submit Form CS/CS (Lite), requires submission of full financial statements.

Deadline is November 30 every year.

• Form CS & Form CS (Lite): Not mandatory but must be prepared and available upon request by IRAS.
• Form C: Required to be submitted with financial statements and supporting documents.

Yes. Businesses can file Form CS or a Dormant Company declaration.

Businesses may be fined, issued a citation, or have their taxes assessed if they fail to pay on time.

Self-filing is possible if you understand the process, contact GLA for assistance in filing Singapore corporate tax returns to ensure compliance and reduce the risk of errors.