Introduction

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In 2019, IRAS and ACRA invited software developers to participate in a pilot to co-create a novel digital solution that enables companies to generate draft versions of the following documents:

a.Annual Return
b.Financial statements in eXtensible Business Reporting Language format (XBRL)
c.Corporate Income Tax Return (Form C-S)
d.Corporate Income Tax computation

After reviewing the draft documents, companies will be able to submit documents (a), (b) and (c) to IRAS and ACRA seamlessly from the digital solution. Document (d) will be retained by the company and need not be filed. The target users of this solution are companies with simple tax affairs and accounting transactions.

Software developers are required to enhance their software with capabilities to consume various Application Programming Interfaces developed by IRAS and ACRA to generate and submit the documents.
We intend to work with up to 5 software developers to enable:

Filing of Form C-S for Year of Assessment 2019 from September 2019
Filing of AR from December 2019
Generation of Corporate Income Tax computation and filing of Form C-S for Year of Assessment 2020 from April 2020
Generation of Financial statements in XBRL format from April 2020

Software developers keen to help companies improve their productivity through digitalisation and are able to meet the requirements detailed in the Open Invitation documents can apply to participate in this pilot project. The development of this solution will take place from April 2019 to March 2020.

 

 

Realtimme Cloud is one of the 4 companies to date (April 2021), selected to incorporate the features do seamless filing to consume the API (application programming interface) provided by the 2 agencies.

 

For further information, please email to sales@realtimme.net. or chat with us via WhatsApp @ 8148 8824.Our sales team will be able to assists you in your query.

 

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Related Topics

Basic Guide to Corporate Income Tax for Companies 

 

 

 

 

 

 

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