Singapore Income Tax Compliance and Tax Return / Filing Deadlines - Presented by Tax Accountants

FOR COMPANIES

Estimated Chargeable Income
Estimated Chargeable Income is an estimate of a company's chargeable income for a Year of Assessment (YA). IRAS requires each company to submit an ECI for the Year of Assessment within three months after the financial year ends.

Accounting Records
All Singapore Company must prepare the accounts which must consist of Profit and Loss Account, Balance Sheet, Cash Flow Statement, and Equity Statement in accordance with the Singapore Financial reporting standard (SFRS). The accounting records must be kept for 5 years.

Singapore Tax Return Filing
The filing/submission deadline for corporate income tax return is 30 November 2011. Documents to be submitted are audited or unaudited Report, Form C/Income Tax Return and tax computation. The tax authority may impose a composition fee on the company if the documents are not filed by 30 November 2011.

Submission of Financial Report - audited and unaudited
Every company is required to submit a Financial Report. The report consists of financial statements such as balance sheet and income statements; supporting notes and disclosure of significant accounting policies applied by the company; disclosure of company's operations; and shareholders and directors' interests


FOR INDIVIDUALS

Income is assessed on a preceding calendar year basis, ending 31 December. You must File Your Annual Tax Form by 15 April of the following year. You can usually expect to receive the income tax bills from May to August.

Tax Accountants can assist you in your company and personal income tax filings. Tax services available include:

• Registration for new Singapore tax payers
• Preparation and filing of income tax return based on your income details and determination of tax deductions and reliefs that are applicable to you
• Request for extension of tax filing deadline, if necessary
• Preparation of Form IR8A/IR21 for employees
• Singapore and international tax planning and advice


About the Publisher

Tax Accountants Pte Ltd provides reliable and affordable services in Singapore which include accounting, bookkeeping, payroll, corporate tax services and individual income tax services. Our work processes are designed to be efficient and cost-effective. Our aim is to relieve you of the burdens of statutory compliance and enable you to focus on running and growing your business. Contact us now so we can discuss your requirements; Email us today at info@taxaccountants.com.sg.
For more information, visit:

Tax Accountants Pte Ltd
10 Anson Road, #26-04 International Plaza, Singapore 079903
Telephone : (65) 6604 2608
Fax : (65) 6725 8438
Email : info@taxaccountants.com.sg
Website: http://taxaccountants.com.sg/

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