On or about 2 May 2019, the Inland Revenue Authority of Singapore (IRAS) has made available the Basic Corporate Tax Calculators (BTC) for the companies/tax agents filing the following forms:
- Companies filing Form C
- Companies filing Form C-S
The BTC is designed for companies to compute, on their own, the amount of taxes they have to pay. The BTC is also used by companies to prepare their tax computations and tax schedules when filing their taxes.
However, it is not designed for use by investment holding companies and such companies should refer to the “Basic Format of Tax Computation for an Investment Holding Company”.
Companies filing Form C should submit their tax computations and tax schedules together with Form C. Companies filing Form C-S should prepare and retain their tax computations and tax schedules and submit them to IRAS only upon request.
Source: IRAS, 5 May 2019