As the e-Filing service for Form C-S/ C is only made available in June every year, the company may need to file a Form C-S/ C for advance Years of Assessment if it wishes to apply for strike off shortly after ceasing business.
For example, Company A with 31 Dec financial year end ceased business on 31 Oct 2018 and wishes to apply for strike off in Dec 2018. As the business ceased on 31 Oct 2018, Company A will need to file Form C-S/ C for the following YAs:
- YA 2018 for period: 1 Jan 2017 to 31 Dec 2017; and
- YA 2019 for period: 1 Jan 2018 to 31 Oct 2018.
As of Dec 2018, the Form C-S/ C e-Filing services are only available up to YA 2018. The YA 2019 Form C-S/ C will only be available in Jun 2019. However, Company A will be able to e-File its YA 2019 return prior to Jun 2019 if it applies for waiver to submit income tax return using e-Service. It will be given 21 days to e-File the YA 2019 return from the date of application.
In the above example, if Company A ceased its business on 31 Oct 2017, it will only need to e-File its YA 2018 return (which covers 31 Oct 2017, the date of cessation of business). There is no need to file the YA 2019 return, and the company need not use the
Apply for Waiver to Submit Tax Return (Dormant Company) e-Service as it need not file Advance YA returns.
For companies filing Form C-S, the accounts and tax computations are not required to be submitted together with Form C-S. However, you should still prepare the documents and submit them upon IRAS' request.
Generally, IRAS strives to complete the assessments and waiver applications within two months upon receipt of complete information. However, in the event IRAS requires further information from companies with complex affairs or that have submitted incomplete information, it may take up to 6 months to review the assessments. This
flowchart illustrates the process for companies applying for strike off.
Dormant Companies
If the company has been dormant since the date of incorporation or since the submission of the last Income Tax Return (Form C-S/ C) and it has outstanding Income Tax Returns (Form C-S/ C) that were issued to it during the dormant period, you may wish to inform IRAS via the
Apply for Waiver to Submit Tax Return (Dormant Company) e-Service, before proceeding to apply for strike off with ACRA. If the application for a waiver is successful, the company need not submit its outstanding Income Tax Returns (Form C-S/ C). For more information, please refer to
Dormant Companies.
Tax Clearance Letter
Do note that IRAS will not issue a tax clearance letter for the purpose of applying for strike off. The company can rely on the following documents from IRAS to determine that there is no outstanding tax matter or tax liability:
- Tax matters - Latest Notice(s) of Assessment; and
- Tax liability - Latest Statements of Accounts.