Q：
|
What will happen if I fail to file corporate income tax return by due date?
|
A：
|
Inland Revenue Authority of Singapore (IRAS) will issue an estimated Notice of Assessment and you must pay the estimated tax within 1 month even you do not agree with it.
|
Q：
|
What if I ignore the estimated Notice of Assessment issued by IRAS?
|
A：
|
IRAS will charge interest on the outstanding tax payable plus additional compound and the company’s directors will be summon to Court if the estimated tax and compound is not paid on time.
|
Q：
|
What can I do if I do not agree with the estimated Notice of Assessment issued by IRAS?
|
A：
|
You must pay the estimated tax payable within the due date. You must file an objection to the assessment within 2 months from the date of the Notice of Assessment. When filing objection, you must submit the Form C/C-S, financial statements and tax computation. Otherwise, the estimated assessment will not be revised.
|
Q：
|
Can I request for an extension to file my company’s overdue tax return?
|
|
A：
|
A request for extension to file may be made online via IRAS online tax portal “Request Penalty Waiver/Extension of Time to File”.
|
FAQ
