e-Services Workshops for Tax AgentsAugust 2017

Twitter.com/IRAS_SG Facebook.com/irassgwww.iras.gov.sg

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Agenda

• Overview of Corporate Tax e-Services

• Tax Agent e-Services

Objectives and highlights

Demonstration and hands-on familiarisation with interactive demo kit

• e-Filing of Form C-S and Form C

Qualifying conditions and demonstration for e-Filing Form C-S

Hands-on familiarisation for Form C interactive demo kit

References and tips

• Tips on other e-Services

• Budget 2017 Highlights for Businesses

2

Overview of Corporate Tax e-Services

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

CT e-Services at mytax.iras.gov.sg

4

Type of e-Services

Tax Agent e-Services NEW! • An overview of authorised clients’ corporate tax matters, e.g., last

completed YA, tax filing status, etc.

Filing e-Services • File Estimated Chargeable Income (ECI)• File Income Tax Return (Form C-S/ C, Dormant Company)• Section 45 (Withholding Tax) e-Services

Object to/ Revise Assessment • Lodge an objection to the Notice of Assessment or make

amendments to the ECI and/ or Form C-S/ C filed

Application e-Services • PIC Cash Payout• Certificate of Residence (COR)• Waiver to Submit Income Tax Return by a Dormant Company

Viewing Communications/

Status

• View Corporate Tax Notices• View Corporate Tax Filing Status• View Donations• View Officer-in-Charge• View Document Identification Number (DIN)

Payment e-Services • Payment via internet banking

Update Corporate Profile/

Contacts & Alerts

• Update company’s particulars, contact details and financial year end

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

How to Access e-Services including e-Filing Form C-S/C

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*Access Code is a unique password issued and sent to company’s registered address shortly after its

incorporation.

Company Administrator

e-Services Authorisation System (EASY)

Company Staff/ Tax Agent

Login to mytax.iras.gov.sg

Access

code* and

SingPass/

IRAS Pin

Authorise

SingPass/

IRAS Pin

START!

Perform the SingPass 2-Step Verification (2FA)

2FA ready?

Use e-Services

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Access Code

application form

Log in using your

individual SingPass OR

IRAS Pin

e-Services Authorisation System (EASY)

• Online system that allows organisations to authorise their

employees/third party to access e-Services on their behalf

• All authorisations of staff and directors/ tax agent firms must be

done at EASY

Tax agent firms will also need to authorise their individual staff via EASY

before they can access the e-Services of specific clients.

• Log in to EASY using your company’s Access Code*

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For guidance,

refer to User

Guides on IRAS’

website at

iras.gov.sg

- e-Services >

Others > EASY

>Getting

Started

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

e-Services Authorisation System (EASY)

7

Preparer

Approver IRAS

• A preparer prepares the application/ form

for submission to an Approver

• The preparer does not have the rights

to submit directly to IRAS

• An approver will approve or edit, and

submit the application/ form to IRAS

• The approver can also prepare the

application/ form and submit it to IRAS

(for companies without the Preparer role)

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Get ready for compulsory e-Filing!

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Forms Filing Form C-S/ C,

Filing ECI

Withholding

tax

PIC Cash

Payout

Certificate of

Residence

Effective date to

move to 100%

e-Filing

YA2018: Companies

with revenue > $10

million in YA 2017

YA2019: Companies

with revenue > $1

million in YA 2018

YA2020: All companies

Compulsory

w.e.f. 1 Jul 2016

Compulsory

w.e.f. 1 Aug

2016

Paper

applications

not accepted

from Jun 2017

• With e-Filing, all businesses can benefit from reduced compliance costs

and productivity gains while enjoying the convenience of going paperless.

• In line with Government's direction for more cost effective delivery of public

services and the Smart Nation vision to harness technology to enhance

productivity, compulsory e-Filing of Corporate Tax returns (ECI, Form C-S/

C) will be implemented in phases starting from YA 2018. Other IRAS e-

Services have also moved to 100% e-Filing.

Tax Agent e-Services

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Objectives of TA e-Services

10

• Current e-Services designed with taxpayers in mind and may not

fully meet the needs of TAs

Lack summary overview of all clients – TAs need to enter individual

client’s UENO number to check status/ correspondences

• TA e-Services will help you better manage your portfolio of clients:

Providing information from the perspective of a TA staff

Summary overview of the outstanding ECIs and Form C-S/ C of all clients

the staff is authorised to view

Include recent notices/ correspondence sent by IRAS

24/7 access to information via mytax.iras.gov.sg

TAs call us on routine matters instead of self-help

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Highlights of the TA e-Services

- Summary listing of the authorised TA staff’s clients

- Company dashboard which provides information on each client’s filing/ assessment status, GIRO, financial year-end

- Overview of all clients’ filing/ assessment status for ECIs and Form C-S/ C

- Links to perform transactions to e-File ECI and Form C-S/ C

- Provides information on Last Completed Year of Assessment

- Viewing of latest Notices/ Correspondence/ myTax Mail

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Demo of Tax Agent e-Services

Materials required

• TA e-Services demo kit

• Task sheet

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e-Filing of Form C-S and Form C

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Types of Income Tax Return

14

File Form C

and Appendix on

Additional

Information

on Income &

Deductions (Form

IRIN 301)

File Form C-S

(Simplified Tax

Filing

for Small

Companies)

For companies that

meet qualifying

conditions

OR

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Qualifying Conditions for Filing Form C-S

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*Revenue of a company refers to the gross amount of its income derived from its principal

activities excluding separate source income such as interest. Effective YA 2017, the annual

revenue threshold for filing Form C-S is increased from $1 million to $5 million.

Note: Companies that do not meet the conditions have to submit to IRAS a full set of tax

return comprising the Form C, financial statements, detailed profit and loss statement,

tax computation and supporting schedules.

Company:Does not claim any of the following:

• Is incorporated in Singapore • Has an annual revenue* of

$5 million or below • Derives only income taxable

at 17%

• Carry-back of Current Year Capital Allowances/Losses

• Group Relief• Investment Allowance • Foreign Tax Credit and

Tax Deducted at Source

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

e-Filing of Form C-S at mytax.iras.gov.sg

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• Form C-S is a shortened 3-page Income Tax Return for small companies

• Not required to submit financial statements, tax computation and

supporting schedules with Form C-S but still need to prepare and submit

to IRAS upon request

• You can e-File Form C-S for YA 2017 via mytax.iras.gov.sg

• Effective YA 2017, companies claiming writing-down allowances for

Intellectual Property Rights under S19B are required to submit the

Declaration Form* to IRAS at the time of lodgment of the Form C-S New!

You can submit the Declaration Form to IRAS via the ‘Submit Document’ e-

Service at mytax.iras.gov.sg

*The ‘Declaration for the Purpose of Claiming Writing-Down Allowances for Intellectual Property Rights

(IPRs) under Section 19B of the Income Tax Act’ form is available on IRAS’ website under Home > Quick

Links > Forms > Businesses > Corporate Tax forms.

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Demo on e-Filing Form C-S

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Materials required

• Form C-S demo kit

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Filing of Form C

Companies that do not meet the conditions for filing Form C-S

have to submit Form C

A complete set of Income Tax Return (Form C) consists of:

• Form C

• Form IRIN 301

(Additional Information on Income & Deductions)

• Audited/ Unaudited financial statementsNot required to be submitted if full set of financial statements has been

filed with ACRA in XBRL format

• Detailed profit and loss statement

• Tax computation and supporting schedules

• Relevant forms (e.g. group relief form, R&D claim form,

S19B declaration form)

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© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

How to e-File Form C and supporting documents

19

Online Form C

Form C (Upload)

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Demo on e-Filing Form C

Materials required

• Online Form C demo kit

• Case studies

20

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

References for e-Filing of Form C-S/ C

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Types of Self-Help Direct Path

Form C (both online and upload)

Tips on e-Filing Form C

FAQs on e-Filing of Form C

Online Form C

User Guide for Tax Agent on e-Filing Form C

Form C Interactive e-Filing Guides (For

Preparer/Approver role)

Form C (Upload)

User Guide for Tax Agent on e-Filing Form C

(Upload)

Home > Businesses >

Companies > Filing

Taxes (Form C-S/ C) >

Guidance on

Completing Form C-S/

C

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

References for e-Filing of Form C-S/ C

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Types of Self-Help Direct Path

Form C-S

Tips on e-Filing Form C-S

FAQs on e-Filing of Form C-S

User Guide for Tax Agent on e-Filing Form C-S

Form C-S Interactive e-Filing Guides (For

Preparer/Approver role)

Preparation of Tax Computation

• Basic Corporate Tax Calculators for filing Form

C-S or Form C

Home > Businesses

> Companies > Filing

Taxes (Form C-S/ C)

> Guidance on

Completing Form C-

S/ C

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Submit Document e-Service

Types of Document to Upload

• Audited/ Unaudited financial statements

• Tax computation, detailed P&L and supporting

schedules for the current YA

• Revised tax computation and supporting schedules for

carry-back of current YA’s capital allowances/ losses

and income not previously reported

• R&D claim form

• S19B declaration form

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For guidance, refer to our user guide.

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Revise/ Object to Assessment e-Service

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For guidance, refer to our user guide.

• Question: Which option do I choose in ‘Revise/ Object to Assessment’ e-Service if I would like to

correct errors in ECI, Form C or any of the attachments submitted?

Radio buttons When to use this objection type

Revise/ Object to Estimated

Chargeable Income (ECI)

Objection to estimated assessment but

Form C/ C-S not filed

Revise Form C-S/ C Filing (Status

of Form C-S/ C is Under Review)

Form C/ C-S filed but still under review

(i.e. NOA is for an estimated

assessment)

Object to Notice of Assessment

(NOA) for Form C-S/ C

Form C/ C-S filed and finalised (i.e.

NOA is for a completed assessment)

New e-Service screen with effect from end Aug 2017:

Budget 2017 Highlights for Businesses

Refer to IRAS’ website at iras.gov.sg for the full list

News & Events > Singapore Budget > Budget 2017 – Overview of Tax

Changes

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Enhancing and Extending the Corporate Income Tax Rebate

• To help companies cope with economic uncertainty and continue restructuringObjective

• CIT rebate cap raised from $20,000 to $25,000 for YA 2017 (rebate rate unchanged at 50% of corporate tax payable)

• CIT rebate extended to YA 2018, at reduced rate of 20% of tax payable and capped at $10,000

Budget Change

Administratively:

Companies need not factor in the CIT Rebate when filing the Estimated

Chargeable Income and the Income Tax Return (Form C-S/ C) as IRAS will

compute and allow it automatically.

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved.

Increase in revenue threshold for Form C-S Filing and ECI Waiver

• To reduce compliance costs for businessesObjective

• IRAS has increased the annual revenue threshold for simplified filing from the current $1 million to $5 million:

• Form C-S (simplified tax return):

• Effective YA 2017, companies with annual revenue of $5 million and below may file Form C-S

• All other conditions remain unchanged

• Waiver to file ECI

• Coy’s FYE in or before Jun 2017 – Annual revenue ≤ $1 million and ECI NIL

• Coy’s FYE in or after Jul 2017 – Annual revenue ≤$5 million and ECI NIL

Budget Change

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Assistance and Service Channels

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Home > e-Services > Businesses > Companies

• Email us at myTax Mail

• For companies: 1800-356-8622• 8.00am to 5.00pm from Mondays to Fridays

• Best time to call: 8.30am – 10.30am• Best day to call: Friday

Websitewww.iras.gov.sg

Email

Helpline

Social Media Twitter.com/IRAS_SG

Facebook.com/irassg

© 2017 Inland Revenue Authority of Singapore. All Rights Reserved. 29

Please complete our online Feedback Form here after the workshop:

https://www.iras.gov.sg/irashome/Feedback/e-Services-Workshops-

for-Tax-Agents/.

Your feedback will assist us in planning and organising our future

workshops.

The information presented in the slides aims to provide a better general

understanding of taxpayers’ tax obligations and is not intended to comprehensively

address all possible tax issues that may arise. This information is correct as at

31.07.2017. While every effort has been made to ensure that this information is

consistent with existing law and practice, should there be any changes, IRAS

reserves the right to vary its position accordingly.