Tax Return In Singapore: A Friendly 2025 Guide

Filing your income tax return in Singapore on time and accurately is important. It helps you stay compliant and get tax benefits. Hence, tax season is a crucial time for everyone in the workforce. 

In this guide, we explore the fundamentals of Singapore’s corporate taxation. It includes key filing deadlines, tax rates, deductions, filing procedures, and the consequences of mistakes. It also offers advice for foreign and foreign-owned companies.

1. Introduction to Taxes in Singapore

The tax return in Singapore has separate filings for individuals (income tax) and companies (corporate tax). Corporate income tax is charged on profits made by companies at a flat rate of 17%. There are also specific exemptions and reliefs available.

Corporate Tax Return Forms

• Form C: Full return for companies with complex finances.
• Form C-S: Simplified return for small companies (annual revenue ≤ SGD 5 million).
• Form C-S Lite: For tiny companies (≤ SGD 200,000 revenue) with straightforward income.

Key 2025 Deadlines for Tax Return in Singapore

Companies must adhere strictly to deadlines to avoid penalties and enforcement actions. Here are a few dates to mark on your calendar:

More reads: Corporate Income Tax: A Guide to Prepare Your Business for the End of the Financial Year

2. Tax Rates and Calculations

Taxable, Non-Taxable Income, and Deductions

1. Taxable Income: Includes profits from trade/business, rental income, royalties, interest, and premiums. Dividends received from Singapore-resident companies are exempt under the single-tier tax system.
2. Non-Taxable Income: Capital gains, some foreign-sourced incomes, and income exempted under incentive schemes.
3. Allowable Deductions: Expenses wholly and exclusively incurred in producing assessable income. Examples include:

• Business rental and utilities
• Employee salaries and CPF contributions
• Repairs and maintenance (not capital expenditure)
• Advertising and marketing costs
• Professional and consultancy fees
• Interest on business loans

Non-allowable deductions include personal expenses, capital expenditures, fines, and private expenses.

Singapore Corporate Tax Rates for 2025

Example: Corporate Tax Calculation

For a chargeable income of SGD 400,000:

• 8.5% on first SGD 100,000 = SGD 8,500
• 17% on next SGD 190,000 = SGD 32,300
• 17% on remaining SGD 110,000 = SGD 18,700
  Total payable tax: SGD 59,500

3. How to File Tax Return In Singapore

• File the Estimated Chargeable Income (ECI) within three months after the financial year-end (waivers available).
• Submit annual corporate tax returns (Form C, C-S, or C-S Lite) via IRAS myTax Portal by November 30, 2025.
• Pay tax within one month of receiving the Notice of Assessment.
• Amendments can be made through IRAS online services before the final assessment.

4. Consequences of Filing Issues

5. Tax Reporting for Business Types

More reading: Which Business Structure Should I Choose for a Startup in Singapore? (2025) 

6. Tax Filing for Foreigners and Foreign-Owned Companies

Requirements and Essential Documents

• Certificate of Incorporation, Business Profile from ACRA
• Board resolution authorising tax filing and appointing directors/signatories
• Identification documents of directors and shareholders (notarised if overseas)
• Financial statements and computations
• CorpPass or SingPass Foreign Account (SFA) for IRAS portal access

Step-by-Step Guide

1. Register for CorpPass or SingPass Foreign Account for e-filing access.
2. Compile necessary corporate documents and identification proofs.
3. File ECI within 3 months of the financial year-end, if applicable.
4. Submit annual tax returns by November 30, 2025.
5. Pay taxes within one month upon receiving the Notice of Assessment.
6. File amendments or appeals promptly through IRAS digital services.

7. Frequently Asked Questions (FAQs)

• Does a dormant company need to file a tax return in Singapore?
  Yes, dormant companies must file a nil tax return annually or request a dormancy waiver from IRAS.
• Can I make changes after I’ve filed my taxes?
  You can re-file once before the filing deadline or submit an amendment after receiving your tax bill.
• What if I don’t agree with the tax bill?
  You can file an objection or appeal with IRAS within the stipulated time using online services.
• Are tax bills and Notice of Assessment the same?
  No, the Notice of Assessment (NOA) details the tax amount assessed; the tax bill is the demand for payment based on the NOA.
• Is foreign income taxable?
  Generally, foreign-sourced income is exempt unless related to trade/business in Singapore.
  

8. Useful Government Resources

• IRAS Corporate Income Tax Filing 2025
• GoBusiness | e-Services
• IRAS myTax Portal
• SingPass and CorpPass Access

Conclusion

Singapore’s corporate tax system is competitive and easy to understand. However, it requires strict compliance with deadlines and paperwork. Companies enjoy many exemptions and relief programs. E-filing makes submissions easier and speeds up processing. Foreign and foreign-owned companies must follow specific rules to remain compliant. 

Hence, staying informed about tax obligations helps your company avoid penalties. If you are new or require guidance, you can also connect with professionals like SCS for advice and to stay updated. If you are unsure where to begin, take this article as your reference: 5 Questions to Ask Your Accountant at Tax Time.

Disclaimer: The information provided in this article is intended for general guidance only and reflects regulations as of the publication date. Given that compliance requirements, processes, and fees may change over time, readers are advised to consult official sources such as ACRA for the most up-to-date information or seek professional guidance from our team.