The corporate tax-filing season 2019 has started and companies are encouraged to file their YA 2019 C-S/C by computing an electronic file by the due date of December 15, 2019. If you are looking for assistance to help you file for corporate tax filing then, you can learn to use the Basic Tax Calculator to prepare your taxes.

Remember that most company incorporation in Singapore are encouraged to do research prior to using the corporate tax calculator, and it should help you with gathering other paperwork crucial for corporate tax filing season 2019.


Basic Corporate Tax Calculator

The basic corporate tax services calculator refers to an excel workbook that is designed to help small businesses and tax agents with preparing tax schedules and computing other tax-related figures when filing for tax returns. The ready-to-use excel workbook incorporates of explanatory guidelines to help taxpayers with calculating their taxes, and they can use the workbook to avoid any potential errors.


Objective of the Basic Corporate Tax Calculator

Most startup outsourced accounting services Singapore businesses that are qualified to pay corporate tax are foreign to the use of Basic Corporate Tax Calculator (BTC); however, the authorities have enforced few rules that allow them to compute their tax work via BTC, and not following the rules may result them in paying a penalty for the act.

Most secretarial services companies are encouraged to use the premeditated tax calculator on the IRAS website without any hassle or problem. They simply have to evaluate a couple of things to calculate the payable taxes and determine the deductibles on their incurred taxes. Additionally, companies and startup businesses use BTC calculators to compute tax and tax schedules, which is necessary for filing taxes.

As an implemented rule, most payroll services companies are asked to file for Form-C along with their tax schedules and tax computations simultaneously. Also, if a business is required to file for Form C-S then, they should prepare and retain their filed taxes and submit the documentations to IRAS on request.


Using the BTC for Companies filing Form C-S

  1. Before you sit down to use the BTC, you should gather the necessary paperwork that includes the financial statements of the company, along with the profit and loss statements pertinent to your business, tax computation of previous year, Notice of Assessment for the concerning YA, and other supporting schedules.
  2. Make sure you have your company’s tax reference number and company’s name to enter in the “Company’s Particulars” tab.
  3. Submit the relevant data in the yellow boxes in the excel sheet.
  4. Follow the red asterisk sign to add mandatory information to the marked cells on the excel sheet.

If you are unable to understand the process, you can work with the best accounting firm in Singapore or company incorporation based in Singapore to seek assistance regarding the filing and submission process. Make sure that you have all your paperwork before you start to use the BTC on IRAS’ site.