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Annual Filing Requirements in Singapore

Annual Filing Requirements in Singapore

Companies are required to comply with the annual filing requirements in Singapore. The documents filed involve the operation of business of the company and must be strictly complied with. The entities that require the filing of specific documents are the Inland Revenue Authority of Singapore and the Accounting and Corporate Regulatory Authority of Singapore. The document required by the Inland Revenue Authority is the annual income tax return while the Accounting and Corporate Regulatory Authority requires the annual return. Our law firm in Singapore has assisted many corporate clients in complying with the annual filing requirements.

ACRA annual filing requirements in Singapore

The Companies Act of Singapore is the law governing corporations in the country. Under the law, companies must conduct an annual general meeting within eighteen months from incorporation and, subsequently, every calendar year. One of the things tackled during the annual general meeting is the financial accounts of the company consisting of profits and losses. Within one month after the annual general meeting, an annual return must be filed with the Accounting and Corporate Regulatory Authority of Singapore (ACRA). The annual return in Singapore contains the legal status of the company involving directors, corporate officers, shareholders, and share capital. Companies must comply with this annual filing requirement in Singapore. Let our attorneys in Singapore assist you in filing the annual return.

IRAS annual income tax return in Singapore

The annual income tax return requirement in Singapore includes tax computation, audited or unaudited financial accounts, and form C. The tax computation shows the adjustments between profits and losses incurred by the company to arrive at the income that will be subjected to tax. The filing of audited or unaudited accounts will depend on the amount of turnover the company has. Companies with a turnover of less than five million SGD may file an unaudited account. For others, an audited account is necessary. A Form C is a declaration of income which must be fill out by the company. Regardless of whether the company is gaining profits or has losses, all trades or business must file a Form C. Our Singapore lawyers can inform you further on the filing of your tax return.

Complying with the annual filing requirements in Singapore is not an easy task, but our Singapore law firm can definitely help companies with this matter. Just contact our lawyers in Singapore for more details.