The Inland Revenue Authority of Singapore (IRAS) has updated its webpage for preparing tax computations by publishing two Basic Corporate Income Tax Calculators (BTC) for the assessment year (AY) 2025.
These Excel-based calculators are tailored for companies filing either Form C or Form C-S/ Form C-S (Lite).
If a company is filing Form C, they must file its audited/ unaudited financial statements, tax computation and supporting schedules together with Form C. If a company is filing Form C-S/ Form C-S (Lite), they do not need to file its financial statements, tax computation and supporting schedules, but these documents should be ready for submission upon IRAS’ request.
BTCs assist trading companies in preparing tax computations and schedules, including common items like capital allowances and renovation expenses, with built-in checks and explanatory notes.
