The Year of Assessment (YA) 2025 Corporate Income Tax (CIT) filing season is now underway. To help you file with ease, the Inland Revenue Authority of Singapore (IRAS) has prepared a comprehensive guide covering filing requirements and responsibilities, tax rebates and digital resources – everything you need to know to stay compliant, avoid penalties, and make the most of the support available.
Rebate Available to Support Companies
Look forward to a lighter tax bill with this year’s CIT rebate! As announced in Budget 2025, the Government will provide a CIT Rebate of 50% of the corporate tax payable for YA 2025 to provide support for companies’ cash flow needs. This rebate will be automatically computed and allowed in the tax assessment.
Responsibility to File by 30 November 2025
1. Mandatory Filing Deadline of 30 November 2025
The timely filing of your YA 2025 CIT Return (Form C-S / Form C-S (Lite) / Form C) helps your company comply with its tax responsibilities. It is compulsory to file your CIT returns by 30 November 2025, even if your company had no business activities or incurred a loss in the Financial Year (FY) 2024. Log in to myTax Portal with your Corppass to begin filing.
Exception is given only to dormant companies that have obtained a waiver to file a return from IRAS. Failure to file the tax return by the deadline is an offence under the Income Tax Act 1947, and your company may be subject to penalties of up to $5,000.
2. Directors Remain Responsible for Accurate and Timely Tax Filing
Company directors are reminded that they are ultimately responsible for timely and accurate filings, regardless of tax agent engagement.
Companies that fail to file their tax returns may face enforcement actions by the IRAS. In such cases, IRAS may issue notices to company directors requiring the submission of the company’s financial information. Directors who do not comply by the stipulated deadline may be subject to heavier penalties, including fines of up to $10,000 or mandatory court attendance. Failure to attend court may result in a warrant of arrest being issued against the director.
To avoid such outcomes, directors are advised to maintain oversight of their companies’ filing obligations.
3. Common Filing Mistakes to Avoid
Companies should file their CIT returns accurately and in accordance with IRAS’ requirements. Some common mistakes include understating or omitting income due to poor record-keeping, incorrectly claiming capital allowances on non-qualifying assets, and incorrectly claiming non-deductible expenses. Check out IRAS’ guides on preparing tax computations and the list of common mistakes to avoid CIT filing errors.
Another common administrative mistake is failing to set up proper CorpPass authorisation, which can delay filing when employees or tax agents are submitting tax returns on behalf of companies. For step-by-step guides, visit go.gov.sg/corppassauth.
4. Record-Keeping Obligations
In addition to accurate filing, proper records should be maintained to support the information declared in their tax returns. Records must be maintained for at least five years from the relevant YA, even if the company has ceased operations. Stay compliant with IRAS’ record-keeping requirements to uphold good record-keeping practices, ensure accurate filing and facilitate future reviews by IRAS.
Resources Available to Simplify Tax Filing for Corporates
1. Simplified Forms for Eligible Companies
Looking for a simpler way to file? Depending on your company’s profile, you may qualify for one of these forms for a simplified tax filing experience:
- Form C-S: For Singapore-incorporated companies with annual revenue of $5 million or below*.
- Form C-S (Lite): For Singapore-incorporated companies with annual revenue of $200,000 or below*. This form only requires six essential fields.
- Form for Dormant Company: For companies with no business activities and income. This form allows for quick filing with only two essential fields to complete.
*Other qualifying conditions apply.
If your company falls under the following specific scenarios, please make use of the relevant forms/checklist:
- Recommenced Business: For dormant companies that recommenced business or started to receive any income.
- Newly Incorporated Companies: New companies that have a) closed their first set of accounts; and b) either commenced business or received income in the year of incorporation.
- Companies Applying for Strike Off/to Cease Registration: A Step-by-Step Checklist to ensure settlement of all outstanding tax matters with IRAS before applying for strike off with ACRA.
Choosing the right form helps you file faster and stay compliant – allowing you to focus on what matters most.
2. Suite of Digital Support Resources
Need help with getting started? IRAS has a suite of digital resources to make filing easier and help your company meet its tax obligations efficiently and confidently:
- CIT Filing Guide 2025: Step-by-step guidance available on the IRAS website to walk you through the filing process.
- E-Learning Videos: A comprehensive list of videos on CIT-related topics to refresh your knowledge at your own pace.
- Basic CIT Calculator: Prepare your company’s tax computations easily with explanatory notes and built-in validation checks against common errors.