IRAS Corporate Income Tax Filing Deadline: 30 November — A reminder for companies

Corporate Income Tax Filing Season

30 November is round the corner and for tax professionals, it is the same time of the year yet again – Corporate Income tax filing deadline

For all Singapore-incorporated companies, 30 November is a key date that should never be overlooked. It is the annual deadline for filing your corporate income tax (CIT) with IRAS. Whether your company made a profit, incurred a loss, or remained dormant, filing is still a mandatory requirement.

What must be filed by 30 November?

All companies must submit either Form C-S, Form C-S (Lite), or Form C, depending on their eligibility. Companies may also need to prepare and submit their financial statements, tax computations, and supporting documents.

Why the 30 November deadline matters

Missing the deadline can lead to late-filing penalties, estimated assessments, or additional compliance scrutiny. IRAS may issue an estimated Notice of Assessment if returns are not submitted on time, and this estimated tax becomes payable immediately. Late or incomplete filings may also trigger further enforcement actions.

Have you prepared early?

Proper bookkeeping and timely preparation of financial statements form the foundation for smooth tax filing. For small companies, the accounting and tax function may be combined. For larger companies, tax filing is usually a good season for your tax colleague to communicate with the accounting department on the adequacy of good accounting practices. While everyone is rushing to meet deadlines, management should take this opportunity to review their processes so that improvements can be made for the following years.

What happens if you discover errors from previous years?

If you realise that a past year’s tax filing contained errors or omissions, you are allowed to correct them. Companies may request an amendment to past assessments under Section 93A of the Income Tax Act.

Under Section 93A, you may correct errors within a statutory time limit of up to four years from the end of the Year of Assessment in which the original assessment was made. If the error arose from a subsequent assessment or statement issued by IRAS, the four-year period runs from that later date.

To make the correction, you can log in to myTaxPortal and use the “Revise / Object to Assessment” e-service to submit the revised tax computation and explanation. If IRAS accepts the revision, any excess tax paid will be refunded. If the revision is not accepted, the original assessment will continue to stand.

If the error was made in good faith and is voluntarily disclosed before IRAS initiates any audit or query, penalties may be reduced under the Voluntary Disclosure Programme.

Need help with preparation or corrections?

f you require assistance in preparing tax computations, filing Form C-S or Form C, or revising past years’ submissions under Section 93A, professional guidance can help protect your company from avoidable penalties and ensure compliance.

Accurate and timely filing today helps your business maintain a clean record and avoid unnecessary issues later.

DISCLAIMER: The views and opinions expressed in this article are those of the author and do not necessarily represent the views and opinions of any individuals or organizations with which the author may be affiliated, either in a professional or personal capacity, unless explicitly stated.