Your company is required to report its income to IRAS annually by filing its Form C-S/ Form C-S (Lite)/ Form C.

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:

Description Form C-S Form C-S (Lite) Form C
Qualifying CompaniesSingapore-incorporated companies with annual revenue of $5 million or below Singapore-incorporated companies with annual revenue of $200,000 or belowAll companies
Submission of Supporting DocumentsNot required to submit financial statements and tax computationsRequired to submit financial statements and tax computations
Other Qualifying Conditions
  1. The company only derives income taxable at the prevailing Corporate Income Tax rate of 17%
  2. The company is not claiming any of the following in the Year of Assessment (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
 

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

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.

Learn how to file Form C-S.

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

Notes

1 Revenue refers to the main income source of the company excluding separate source income, such as interest.

2 Form C-S should not be filed if the company derives income that is tax exempt or taxed at concessionary tax rates, such as where tax incentives are granted. The exceptions to this condition are where the company derives:

  • One-tier tax exempt Singapore dividends
  • Specified foreign-sourced income exempted from tax under S13(8) of the Income Tax Act

Dormant Companies with Related Party Transactions

From YA 2020, a dormant company is not required to complete the Form for Reporting Related Party Transactions, even if the value of the related party transactions disclosed in the financial statements for the financial period exceeds S$15 million. Therefore, dormant companies can file Form C-S or Form for Dormant Company instead.

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.

Learn how to file Form C.

FAQs

  1. My company qualifies to file Form C-S (Lite). Can I choose to file Form C-S or Form C instead?

    Yes. Companies that qualify to file Form C-S (Lite) can still choose to file Form C-S or Form C.

  2. How are the qualifying conditions different for Form C-S and Form C-S (Lite)?

    The only difference is in the annual revenue condition. The annual revenue condition is $5 million or below for Form C-S and $200,000 or below for Form C-S (Lite).

  3. What are the differences between Form C-S and Form C-S (Lite)?

    Form C-S (Lite) is a simplified version of Form C-S for smaller companies. For companies with straight-forward tax matters, Form C-S (Lite) requires only 6 essential fields to be completed, compared to 18 fields in Form C-S.

  4. Where can I find Form C-S (Lite) in mytax.iras.gov.sg?

    You will be presented with the option to select Form C-S (Lite) when the company’s revenue is indicated as $200,000 or below under Form C-S at the ‘Form Type Selection’ in mytax.iras.gov.sg. You may refer to our step-by-step guide (PDF, 1.35MB) for guidance on how to file Form C-S (Lite).