Professional Corporate Tax Services & Corporation Tax Filing in Singapore

Running a business comes with many responsibilities — one of the most important being proper and timely corporation tax filing. Whether you’re a new business owner or managing an established company, ensuring that your taxes are filed accurately and on time is essential for staying compliant with local tax authorities and avoiding unnecessary penalties.

At ESSY, we specialize in corporate tax services designed to take the stress out of tax season. Our experienced team ensures your company meets all tax obligations while helping you take advantage of any eligible exemptions or incentives.

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Why Accurate Corporation Tax Filing Matters

Proper corporation tax filing is not just a legal obligation — it reflects your company’s financial health and credibility. In many regions, including Singapore, failing to file your corporate tax return accurately or on time can lead to significant penalties, interest charges, or even audits. With changing regulations and updates from tax authorities, it's easy for business owners to overlook important details. That’s where our corporate tax services come in. We help you navigate the entire process — from organizing your documents to submitting your tax return to the relevant authorities — while ensuring full compliance and accuracy at every step.

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Why Choose Us for Corporate Tax Services?

  1. Experienced Tax Professionals
     Our team consists of licensed tax experts and accountants who stay up to date with the latest regulations and practices in corporate taxation.

  2. Affordable and Transparent Pricing
     We offer competitive pricing for all our corporate tax services, with no hidden fees. You’ll always know what you’re paying for.

  3. Custom-Tailored Solutions
     Whether you run a small business or a large corporation, we tailor our corporation tax filing services to suit your unique structure and industry.

  4. End-to-End Service
     From bookkeeping to tax filing to liaising with tax authorities, we offer a complete solution under one roof.

  5. Client-Focused Support
     We work closely with our clients to understand their operations and goals, making our corporate tax services not just accurate — but also strategic.

Our Corporate Tax Services Include:

  1. Tax Computation and Filing
     We handle the complete corporation tax filing process for you, starting with reviewing your financial statements and computing your taxable income.

  2. Preparation of Form C/C-S
     Whether your business qualifies for Form C-S (simplified filing) or needs to submit the full Form C, we’ve got you covered. 

  3. IRAS Submissions and Deadlines
     We manage all deadlines and file your corporate tax returns electronically through IRAS, so you never have to worry about missing an important date. This is a core part of our corporate tax services.

  4. Tax Planning and Advisory
     Our job doesn’t end with corporation tax filing. We also provide strategic tax advice to help reduce your company’s tax burden legally. This includes recommendations on expense tracking, capital allowances, and tax relief schemes.

  5. Handling IRAS Queries or Audits
     If you’ve received a notice from IRAS or are under audit, we’ll represent your company and respond on your behalf. 

Frequently Asked Questions

Yes, you can file your business taxes by yourself, especially if your business is small, straightforward, and you’re comfortable with financial documents and tax regulations. However, here are a few important considerations:

✅ When You Can File Business Taxes Yourself:

  • Sole proprietors or freelancers often manage their taxes using Schedule C with their personal tax return.

  • You have simple income and expenses, and no employees or complex deductions.

  • You use accounting software like QuickBooks, Xero, or Wave, which simplifies tracking and calculations.

  • You’re familiar with local tax deadlines, forms, and rates.

⚠️ When to Consider Professional Help:

  • You run an LLC, partnership, or corporation (especially with multiple members).

  • You have employees, inventory, or multiple revenue streams.

  • You need help understanding deductions, depreciation, or estimated taxes.

  • You’re worried about IRS audits or missing compliance requirements.

💡 Pro Tip:

Even if you decide to file yourself, it’s wise to company secretary once to ensure you’re on the right track. Tools like TurboTax or H&R Block can guide you through the process if you’re doing it solo.

It depends on your business structure. Here’s how it works:

✅ Sole Proprietorship or Single-Member LLC

Yes, you file business and personal taxes together.
You’ll use Schedule C to report business income and expenses, which is submitted with your personal tax return (Form 1040).

❌ Partnership or Multi-Member LLC

No, business and personal taxes are filed separately.
The business files Form 1065, and each partner gets a Schedule K-1 to report their share on their personal tax return.

❌ S Corporation

No, you must file separate returns.
The S corp files Form 1120S, and shareholders receive a Schedule K-1 to include in their personal return.

❌ C Corporation

No, the business and personal taxes are completely independent.
The corporation files Form 1120, while you file your personal return separately.

💡 Quick Tip:

If you’re unsure about your structure or filing process, consulting a tax professional or accountant can save time and avoid mistakes.

Failing to file a corporate tax return can lead to serious consequences—financial, legal, and operational. Here’s what can happen:

⚠️ 1. Penalties and Fines

The IRS charges a failure-to-file penalty—usually 5% of the unpaid tax per month, up to 25% total. Even if the corporation owes no tax, you can still face a flat penalty for late filing.

💸 2. Interest on Unpaid Taxes

In addition to penalties, the IRS charges daily interest on unpaid taxes. This interest accrues until the full amount is paid, increasing the overall cost significantly.

🧾 3. Loss of Tax Credits or Refunds

If a corporation is due a tax refund or eligible for credits, failing to file may result in losing that money. Refunds must be claimed within 3 years, or they are forfeited.

🛑 4. Legal Action or Enforcement

Continued non-compliance may result in the IRS taking enforcement action, such as:

  • Filing a Substitute for Return (SFR) on your behalf

  • Levying bank accounts

  • Filing liens against the corporation

🚫 5. Loss of Good Standing

Failing to file can cause a corporation to lose its good standing with the state, affecting its ability to:

  • Get financing or business licenses

  • Bid on contracts

  • Continue legal operations

💡 Important Note:

Even if your corporation had no income, you’re still required to file a return (e.g., Form 1120 or 1120S). Filing “zero returns” on time helps maintain compliance.