SINGAPORE - Smaller companies will be able to file taxes more easily this year, with new initiatives rolled out by the Inland Revenue Authority of Singapore , it said on Thursday .
Firms with an annual revenue of $200,000 or below will come under this new system, subject to other criteria. To be eligible for this refund mode, companies must link their Unique Entity Number to their corporate bank account via Internet banking. More on this topic Iras and Acra partnered accounting software providers to incorporate regulatory filing requirements into their software.
"By digitising their financial records through an accounting software, SMEs can also ensure that they have convenient access to essential information required to make effective business decisions," Iras said.