{"id":1259,"date":"2019-07-29T14:37:46","date_gmt":"2019-07-29T06:37:46","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1259"},"modified":"2020-01-17T14:56:16","modified_gmt":"2020-01-17T06:56:16","slug":"filing-estimated-chargeable-income-and-paying-estimated-taxes","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2019\/07\/29\/filing-estimated-chargeable-income-and-paying-estimated-taxes\/","title":{"rendered":"Filing Estimated Chargeable Income and Paying Estimated Taxes"},"content":{"rendered":"\n<p>As announced in Budget 2016, companies are required to e-File their Corporate Income Tax returns (including Estimated Chargeable Income  (ECI), Form C and Form C-S) in a phased approach from Year of Assessments (YAs) 2018 to 2020.<\/p>\n\n\n\n<p>From YA 2020 onward, all companies are required to e-File their ECI.  The following steps need to be followed:<\/p>\n\n\n\n<p>Step 1: Before e-Filing, it must be ensured: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>the taxpayers have been authorised by the company as an \u201capprover\u201d to Corporate Tax (Filling and Applications) in CorpPass; and<\/li><li>the taxpayers have the company\u2019s tax reference number, their CorpPass ID and password.<\/li><\/ul>\n\n\n\n<p>Step 2: e-File via mytax.iras.gov.sg<\/p>\n\n\n\n<p>For more information, please visit the IRAS website for the following guides: <\/p>\n\n\n\n<ul class=\"wp-block-list\">null<li>User Guide &#8211; e-File Estimated Chargeable Income (Company)<\/li><li>User Guide &#8211; e-File Estimated Chargeable Income (Tax Agent)  \u00a0 <\/li><li>Explanatory Notes for ECI for YA 2020 <\/li><li><\/li><li>\u2022 <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.iras.gov.sg\/irashome\/uploadedFiles\/IRASHome\/e-Services\/Businesses\/Companies\/User%20Guide%20(TP)_File%20ECI.Sep18.pdf\">User Guide \u2014 e-File Estimated Chargeable Income<\/a> (Company)<\/li><li>\u2022 <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.iras.gov.sg\/irashome\/uploadedFiles\/IRASHome\/e-Services\/Businesses\/Companies\/User%20Guide%20(TA)_File%20ECI.Sep18.pdf\">User Guide \u2014 e-File Estimated Chargeable Income<\/a> (Tax Agent).<\/li><\/ul>\n\n\n\n<p>Companies that e-File their ECI enjoy <strong>instant acknowledgement<\/strong> upon successful e-Filing.<\/p>\n\n\n\n<p>Only companies that are on GIRO qualify for instalment payment. For Companies that do not have an existing GIRO arrangement may apply for GIRO at least 3 weeks <strong>before<\/strong> e-Filing their ECI.<\/p>\n\n\n\n<p>For YA 2019, companies will be granted a CIT\ntax rebate of 20% of the corporate tax payable, subject to a cap of $10,000.<\/p>\n\n\n\n<p>Companies are not required to factor in the CIT rebate when filing their ECI for YA 2019 as IRAS will compute and allow the rebate automatically.<\/p>\n\n\n\n<p>Source: IRAS website, 29 July 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As announced in Budget 2016, companies are required to e-File their Corporate Income Tax returns (including Estimated Chargeable Income (ECI), Form C and Form C-S) in a phased approach from Year of Assessments (YAs) 2018 to 2020. From YA 2020 onward, all companies are required to e-File their ECI. The following steps need to be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,6],"tags":[],"class_list":["post-1259","post","type-post","status-publish","format-standard","hentry","category-incometax","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1259","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1259"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1259\/revisions"}],"predecessor-version":[{"id":1260,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1259\/revisions\/1260"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1259"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}