The Inland Revenue Authority of Singapore (IRAS) has reminded over 300,000 companies to file their 2025 corporate income tax returns by November 30, warning that those who miss the deadline could face fines of up to $5,000 and further daily penalties for continued non-compliance.
IRAS urged companies to begin preparations immediately, emphasizing that directors are legally responsible for ensuring timely and accurate submissions. More than 37,000 firms filing for the first time will receive support through webinars and digital tools that guide businesses through record-keeping, tax computation, and filing processes.
The tax authority reported that 4,500 companies have already faced prosecution in 2025 for late or non-filing. Persistent offenders may face court-ordered penalties up to twice the tax owed, as seen in recent enforcement cases.
To facilitate compliance, IRAS provides simplified tax forms, digital filing solutions, and an Excel-based calculator to assist businesses. Corporate income tax continues to be the largest revenue source, with collections rising 6.7% to $30.9 billion, reflecting strong corporate earnings amid Singapore’s 10.7% overall tax revenue growth.
Over 300,000 Singapore Firms Must File Taxes by Nov 30 or Face Penalties
