情報Exemption from Filing of Tax Return by Dormant Companies in Singapore
| A dormant company is one that does not carry on business and has no income for the whole of the financial period under review. Even if the company has incurred such costs as bank charges, secretarial fees, and other expenses in maintaining the office. A dormant company must submit its Income Tax Return (Form C-S/ C) unless it has been granted a waiver to file the Income Tax Return by the Inland Revenue Authority of Singapore (IRAS). |
| 1. Obligation to File Income Tax Return (Form C-S/ C) | |
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A dormant company is one that does not carry on business and had no income for the whole of the basis period. For example, if a company did not carry on business and had no income for the whole of the basis period ending in year 2015, it will be regarded as a dormant company for Year of Assessment (YA) 2016. A dormant company must submit its Income Tax Return unless the company has been granted waiver of Income Tax Return submission. A dormant company may still be required to submit its accounts to the Accounting and Corporate Regulatory Authority (ACRA) for its annual return filing. For more information on ACRAs filing requirements for dormant companies, please refer to ACRAs website on Dormant Companies. | |
| 2. Applying for a Waiver of Income Tax Return (Form C-S/ C) Submission | |||||||||||||
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| 3. Waiver Application Processing Time | ||
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| 4. Recommencing Business | |
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Once a dormant company recommences business, or starts to receive any income, the company has to notify IRAS within one month from the date the income is earned or received. | |
| If you wish to obtain more information or assistance, please browse the official website of Kaizen Certified Public Accountants Limited at www.bycpa.com or send email to enquiries@bycpa.com. |
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