Singapore Issued Guide on Corporate Tax Appeals

Singapore Issued Guide on Corporate Tax Appeals

The Inland Revenue Authority of Singapore has issued a Guide making the administrative changes to the objective and appeal process on corporate income tax assessments, which will be introduced with effect from January 01, 2014.

The objection and appeal process covers all assessments raised by the Comptroller of Income Tax, except for assessments based on the estimated chargeable income for advanced tax payments.

According to the current rules, a notice of objection must be filed within 30 days from the date of service of a notice of assessment date. The Comptroller extends the deadline to file a notice of assessment to two months from the date of service of a notice of assessment date. There is no fixed time frame for the Comptroller to complete the review of a notice of assessment filed by corporate taxpayer.

From next year, an acknowledgement of the receipt and validity of a notice of assessment will be issued by the Comptroller instantly for objections filed online, and within 14 days from the date of receipt of a new Objection Form.

The full text of the Guide is available on the web site of the Inland Revenue Authority of Singapore.

 

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