taxBytes@iras is a quarterly e-newsletter that keeps you up-to-date on the latest tax developments and other revenue matters!
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Issue 35: Jul - Sep 2020 |
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Accounting Software to Help Small Companies File Seamlessly

Breeze through your tax preparation and tax filing! IRAS and ACRA have partnered accounting software providers to co-create a solution that allows SMEs to automatically generate Corporate Income Tax return (Form C-S), ACRA’s annual return and financial statements in XBRL format, for direct submission to both agencies from their accounting software.
Click to find out why you should use these accounting software.
You can also get up to 80% funding on your company’s first purchase of an accounting software with this new capability.
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Corporate Tax Filing made simpler, faster with Form C-S (Lite)

When it comes to essential considerations for small companies, it would be speed, ease and cost savings. That’s why we built Form C-S (Lite): a simplified income tax return requiring only six essential fields to be completed for companies with straight-forward tax matters.
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Applying for Alternative Payment Arrangements

Facing difficulties in paying your tax? Do not hesitate to reach out to IRAS early to work out a suitable payment arrangement.

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Receive GST refunds via PayNow Corporate
Not using GIRO? You
can also register for PayNow Corporate with your UEN, NRIC or FIN to enjoy
greater convenience and efficiency with direct crediting of refunds to your
bank account.
Register for PayNow
Corporate by linking your UEN/NRIC/FIN to your bank account via Internet
Banking. For more information, please visit the websites of these participating
banks: BOC, Citibank, DBS, HSBC, ICBC, Maybank, OCBC, Standard Chartered Bank,
UOB.

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Access Government Assistance Schemes with GoBusiness Gov Assist
In need of assistance and not sure which government assistance schemes are relevant to your business? Check out the GoBusiness Gov Assist website. Simply fill up a quick questionnaire and the e-Adviser will direct you to the relevant assistance schemes. You will also be able to research on various schemes available with the online directory.
For your convenience, the following features listed below are now made available on the GoBusiness Gov Assist website:
- GeBiz Alerts: Get the latest alerts on Government procurement opportunities when you sign up for notifications with CorpPass
- Productivity Solutions Grant Listing: Search for the list of solutions supported by the grant
- SME Centre New e-Appointment Booking: Book an appointment to speak with the SME Centres’ Business Advisor

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IVAS-IVSC Business Valuation Virtual Conference 2020

We continue to work with strategic partners like the Institute of Valuers and Appraisers, Singapore (IVAS) and International Valuation Standards Council (IVSC) to raise awareness of the latest developments in business valuation. Amidst the backdrop of the COVID-19 pandemic, this year’s virtual conference will focus on strategies to sustain a competitive edge during this period of global crisis, and how the business community can position itself for growth as the tide turns.
Find out more on the conference here.
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