All companies can file their taxes online from 2015: IRAS

Companies can file their taxes online from next year. -- PHOTO: ST FILE 
Companies can file their taxes online from next year. -- PHOTO: ST FILE 

IRAS will be extending its e-filing option to all companies, regardless of annual revenue, from 2015.

The move will help companies to reduce compliance costs and raise productivity and efficiency, it said on Tuesday.

Larger companies that now file Form C, the Corporate Income Tax Form, will be able to do so online next year.

IRAS also reminded all companies to file their income tax returns by 30 Nov 2014.

All companies will need to file a tax return, even if there was no business done, so long as they have received the Form C (Corporate Income Tax Form) or Form C-S (for smaller companies) package, it said.

Smaller companies that e-File Form C-S have up to 15 Dec 2014 to do so.

This year, more than 70 per cent of all companies have received the Form C-S package, and have the option to e-file the Form C-S. Companies that do so will save time and effort as some of the fields have been pre-filled. They also do not need to submit hard copies of the Tax Computation and Statement of Accounts.