Global Daily Tax News, Singaporean CIT Returns Soon Due, (Oct 17, 2025)

The Inland Revenue Authority of Singapore has urged companies to file their 2025 year of assessment corporate income tax return by the November 30, 2025, deadline.

IRAS noted that over 300,000 companies have a filing obligation, including 37,000 new companies.

While filing compliance reached a record-high rate of 90.4 percent for the 2024 year of assessment, close to 4,500 companies were prosecuted since January 2025 for late-filing or non-filing, the agency said.

IRAS said: "While the majority of corporate taxpayers remain compliant, IRAS takes swift enforcement actions against the small minority of errant companies to ensure all taxpayers pay their fair share of taxes."

Companies that do not file their CIT Returns by the due date can be fined up to SGD5,000 (USD3,863). Continued non-compliance may also result in additional daily penalties of SGD100.

Errant companies that fail to file their tax returns for two years or more may be ordered by the Courts to pay a penalty of twice the amount of tax assessed, in addition to the fine.

IRAS highlighted: "To avoid enforcement actions, all companies – including those that are dormant or incurring losses – are required to file their returns by November 30 unless a waiver has been granted. With over 300,000 companies expected to file their YA 2025 CIT Returns this year and less than two months until the deadline, companies should begin preparations immediately to ensure timely compliance. IRAS recommends that companies complete their filing preparations by October and submit their CIT Returns by mid-November. Directors are reminded that they are responsible for accurate and on-time filing of their companies' CIT Returns."

Eligible companies can streamline their filing process by using simplified options such as Form C-S, Form C-S (Lite), and the Form for Dormant Company, depending on their annual revenue and other qualifying conditions, as follows:

• Form C-S should be used by companies with revenue of SGD5m or less in the financial year 2024, if they only earned income taxable at the CIT rate of 17 percent and are not claiming specified reliefs;

• Form C-S (Lite) (comprising only six essential fields) is for companies with revenue of SGD200,000 or below in the financial year 2024; and

• Form for Dormant Company (with only two essential fields) is for companies that had no business activities and no income in financial year 2024.