Precise Tax
Counsel.

Form C-S is available to Singapore-incorporated companies with annual revenue not exceeding SGD 5 million, deriving only Singapore-taxable income, and not claiming specific items such as carry-back of losses or capital allowances on assets beyond normal capital expenditure. Form C-Lite is an even shorter variant for companies with revenue up to SGD 200,000. Most other Singapore companies file Form C. We will assess which form applies to your company at the start of each engagement.

ECI is an estimate of your company's taxable income for a financial year, submitted to IRAS within three months of your financial year-end. Most Singapore companies are required to file ECI unless they qualify for a waiver, such as having nil ECI and an annual revenue of SGD 5 million or less. We prepare and submit ECI as part of the corporate tax engagement and will advise if a waiver applies.

IRAS generally considers an individual a tax resident if they reside in Singapore, or if they work in Singapore for 183 days or more in the tax year. Residency status affects the tax rates that apply and the reliefs available. For expatriates arriving in or departing from Singapore, the position may change from year to year. We review your specific circumstances before preparing the return.

Singapore's transfer pricing rules require companies with related-party transactions exceeding certain thresholds to maintain contemporaneous documentation. The threshold amounts depend on the nature of the transactions. IRAS may also request documentation during a review even where the thresholds are not met. Maintaining documentation in advance is a practical approach, particularly for companies that have regular intercompany charges, financing arrangements, or management fee structures.

We typically start with the company's audited or unaudited financial statements for the relevant year, along with a summary of the business activities, any significant transactions during the year, and details of any claims or adjustments carried forward from prior years. We will issue a checklist once the engagement is confirmed so you know exactly what to prepare.

For corporate tax filings, the work from receipt of complete information typically spans two to four weeks depending on the complexity of the company's affairs. Personal tax returns are generally completed within one to two weeks. Transfer pricing documentation takes longer, usually four to eight weeks, given the analytical work involved. We work to timelines that accommodate your filing deadlines.