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Summary of Corporate Compliance Requirement

All Singapore companies must comply with the statutory filing requirements with Accounting and Corporate Regulatory Authority (ACRA) and Inland Revenue Authority of Singapore (IRAS). It is easier to engage a professional firm to be your tax and secretary agent to assist you to meet the compliance requirement.

Inland Revenue Authority of Singapore (IRAS)

Estimated Chargeable Income (ECI) File within 3 months from financial year end
Income Tax Return

File by 30th November each assessment year

Individual Tax Return

15 Apr (for paper returns) or 18 Apr (for e-Filing)

Accounting and Corporate Regulatory Authority (ACRA)

Annual General Meeting (AGM) First AGM within 18 months after its incorporation

Subsequent AGMs must be held every calendar year and the interval between AGMs should not be more than 15 months

Annual Return (AR)

AR must be filed within one month after the AGM

Other Requirements

Goods and Services Tax (GST) Registration for GST is compulsory if :
  1. Turnover is more than $1 million for the past 12 months;

  2. You are currently making sales and you can reasonably expect the turnover to be more than $1 million for the next 12 months.
Audited or Unaudited Financial statements
  1. Every company must prepare either audited or unaudited financial statements.

  2. Company needs not be audited if it is an Exempt Private Limited company (EPC) and turnover less than S$5 million.
XBRL Filing requirement
  1. Solvent EPCs will are exempted from filing XBRL report.
  2. Insolvent EPCs and Non- EPCs are required to file XBRL.
CPF Contribution Contribution made 14 days after the end of the month
Company Registration Number Disclosure Every company is required to have the registration number on all business letters, statements of account, invoices, official notices and publications.
Licenses and Permits Some business in Singapore are subjected to regulation by government authorities such as school, travel agency.
Custom Registration For company involves import, export in and out of Singapore, you will need to obtain a CR No., known as Custom Registration.

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