IRAS and the Accounting and Corporate Regulatory Authority (ACRA) have
co-created a digital solution that allows companies to automate the preparation
and filing of Form C-S and Annual Return to IRAS and ACRA respectively via
accounting software. The digital solution leverages on Application Programming Interface (API) to simplify the tax filing
process for companies and reduces their risk of making errors.
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Use an Accounting
Software with the Filing Solution
Companies must first maintain their operating transactions in the accounting software with the IRAS and ACRA API solution. A list of such accounting software can be found under the section Accounting Software Providers.
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One-time
Data Mapping
Companies must perform a one-time mapping of the chart of accounts to a set of prescribed data elements (PDEs) in the accounting software. Instruction manuals and assistance will be provided by the Accounting Software Providers. Alternatively, companies may use the default data mapping which is available in some of the
listed accounting software. The default data mapping is especially useful for newly-incorporated companies or companies new to using the accounting software. Companies can contact the accounting software providers to find out more.
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Review and Submit
Form C-S
Personnel who is authorised by the company to file its Form C-S can begin filing using the accounting software. The personnel should be granted the CorpPass-Approver role for Corporate Income Tax filing purpose.
The accounting software will generate the following draft documents for review:
After review, the filer makes a declaration and submits only the Form C-S to IRAS. An acknowledgement will be provided and displayed in the accounting software upon submission. With this, there is no need to login to
myTax Portal for the submission of Form C-S. Copies of the Profit & Loss Statement and Tax Computation & Supporting Schedules will be saved in the accounting software. They should be provided to IRAS only upon request. The deadline for filing YA 2020 Form C-S via the accounting software is 15 Dec 2020.
The following accounting software providers have successfully integrated with IRAS’ APIs and are capable of submitting companies’ Form C-S seamlessly through their software:
- NETIQUETTE
SOFTWARE PTE LTD
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www.netiquette.com.sg
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https://smecen.com
More accounting software providers will be listed progressively when their solution have been enhanced with the seamless filing capabilities. Accounting software providers that are currently working with IRAS include Autocount Pte. Ltd., Deskera (S) Pte. Ltd. and Realtimme IT Consultancy Pte. Ltd.