Request for Income Tax Return (Form C-S/ C) and Notification of New Financial Year End
In the past, it is required to submit hard copy form to Inland Revenue Authority of Singapore (“IRAS”) to request for Income Tax Return (Form C-S/ C) for new companies. However, this is no longer a requirement with effect from 18 October 2018. Companies required to file the first corporate tax return for YA 2018 can proceed to e-File the return directly via the File Form C-S/ C e-Service. There is no need to request for a YA 2018 return from IRAS.
Request for Income Tax Return (Form C-S/ C) for companies previously granted waiver to submit tax return
Another update announced by IRAS in the month of October 2018 is related to the request for Income Tax Return (Form C-S/ C) for companies previously granted waiver to submit tax return. If the company has recommenced its business or has started to receive income in 2017, the company can email firstname.lastname@example.org to request for an Income Tax Return for YA 2018 with the following details:
- Subject header: “Recommencement of business and request for Income Tax Return”
- Name and Unique Entity Number (UEN) of the company;
- Date of recommencement of business and new principal activity (if applicable); and
- Date of receipt of other source(s) of income e.g. interest, dividend, rent, etc. (if applicable)
Update of Financial Year End
Companies that have changed their financial year end can update IRAS directly by logging in to mytax.iras.gov.sg and updating via the “Update Corporate Profile/ Contact Details” e-Service.
Change of Company Name and Registered Address
When a company has changed its name and/ or registered office address, the change is to be filed with the Accounting and Corporate Regulatory Authority (ACRA) online via www.bizfile.gov.sg. There is no need to inform or update IRAS separately of the change in name or address. IRAS will update its records based on the information filed with ACRA on a weekly basis.
Update of Functional Currency
If your company’s functional currency is not in “Singapore Dollar”, you have to inform IRAS by logging in to mytax.iras.gov.sg and update it via the “Update Corporate Profile/ Contact Details” e-Service.