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IRAS unveils new digital tools for easier corporate income tax filing

IRAS unveils new digital tools to simplify corporate income tax filing for more than 323,000 companies in Singapore. Read more at straitstimes.com.

The Straits TimesThe Straits Times查看原文 ↗
The new tools include a filing obligation check for NICs, a record keeping assistant, and a business expense deductibility checker, among others.
The new tools include a filing obligation check for NICs, a record keeping assistant, and a business expense deductibility checker, among others.

The new tools include a filing obligation check for NICs, a record keeping assistant, and a business expense deductibility checker, among others.

Published Oct 19, 2026, 03:40 PM

Updated Oct 19, 2026, 03:40 PM

IRAS has launched new digital tools to make corporate income tax filing easier for more than 323,000 companies in the 2026 year of assessment.

The tools include checks for filing duties, record keeping, deductible expenses, portal problems, payment status and objections. IRAS says companies will face “greater certainty and fewer follow-up actions”.

About 80% of eligible companies used a simpler return in 2025. Firms may also get the CIT Rebate, SME Cash Grant 2026, and higher AI tax deductions under the Enterprise Innovation Scheme.

SINGAPORE – New digital tools from the Inland Revenue Authority of Singapore (IRAS) are set to make corporate income tax (CIT) filing easier for more than 323,000 companies for the 2026 year of assessment.

The new tools, which will also benefit more than 37,000 newly incorporated companies (NICs), will help companies file returns with “greater certainty and fewer follow-up actions”.

“Clear and seamless tax processes are important for companies to reduce the administrative effort of tax filing, allowing companies to focus more time on running and growing their business,” said IRAS on Oct 19.

The new tools include a filing obligation check for NICs, a record-keeping assistant, a business expense deductibility checker, a myTax Portal troubleshooting assistant, payment status checker and an objection status checker.

Existing efforts to simplify tax filing have seen strong take-up, said IRAS. In the 2025 year of assessment, about 80% of eligible companies used a simplified tax return that reduced filing requirements from three pages to just six essential fields for certain companies.

This year, as announced in the Budget and subsequent support measures, companies may be eligible for the CIT Rebate, CIT Rebate Cash Grant and/or SME Cash Grant 2026.

Not only that, companies considering artificial intelligence (AI) expenditures “may also wish to explore the expanded support available under the Enterprise Innovation Scheme (EIS) for qualifying AI expenditure” for the 2027 and 2028 years of assessment.

Under the scheme, businesses may claim 400 per cent tax deductions on up to $50,000 of qualifying AI expenditure per year of assessment. THE BUSINESS TIMES

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