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Things To Do If You Miss The Tax Filing Deadline in Singapore

WHAT TO DO IF YOU MISS THE TAX FILING DEADLINE? www.singaporetaxaccounting.com You need to act immediately and take immediate action. a professional firm like SingaporeTaxAccounting to help you finalise your tax returns and submit them with IRAS at the earliest. If not Contact and engage the late filing penalties and charges are the following: TAX If the income tax return and audited/unaudited accounts are not filed by 30 November (15 December for e-filing of Forms C-S), IRAS may take the following actions: IRAS COMPANY Estimated Company needs to pay tax amount within prescribed date mentioned in the NOA (Normally within 1 month from the date of NOA). Notice of Issue Assessment (NOA) requiring the company to pay tax amount. Issue "Offer of Composition for Failure to File Form C-S/C and/or Certified/Audited accounts and/or Upon receipt of the Offer of Composition, the company is required to file the outstanding documents immediately and pay the composition fee not exceeding S$1000 by the due date stated in the letter. Corporate Tax Computation" to the company. Issue "Notice Pursuant to Section The director needs to furnish the 65B(3) of the Income Tax Act" to the director of the company. outstanding documents within 21 days from the date of the Notice. The company director/representative of the company is required to attend court on a date fixed by the court. Upon conviction, a fine of up to S$1,000 may be imposed and the company director/representative will still be required to file the oustanding documents Issue Summon the to avoid further company/director to Court. prosecution actions. If the company files the oustanding documents and pay the summons fee at least one week before the Court date, the company director/representative will not be required to attend court on the assigned date. Take legal actions if the company fails to file a tax return for 2 years or more. Upon conviction in Court, it will have to pay a penalty equal to double the amount of tax that the IRAS may assess for that year of assessment, and exceeding S$1,000. fine not WHAT TO DO ON MISSING THE CORPORATE TAX FILING DEADLINE IN SINGAPORE Companies must pay their tax within one month from the date of the Notice of Assessment, or face 5% penalty on the overdue tax. GET STARTED Singap re Last Updated: June 2018 TAX ACCÓUNTING Singapore Tax Accounting Specialists · 30 Cecil Street, Prudential Tower, Singapore 049712 Phone: +65 8699 8826 · Email: info@singaporetaxaccounting.com - Website: www.singaporetaxaccounting.com %24

Things To Do If You Miss The Tax Filing Deadline in Singapore

shared by sgcompanyinc on Mar 25
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Filing of audited or un-audited accounts as well as tax planning is very important. The Inland Revenue Authority of Singapore (IRAS), mandates all corporate taxpayers in the city-state to promptly fil...

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