Annual Compliance Guide for Singapore Companies

Annual Tax Compilation & Filing From S$360

As a director of a Singapore incorporated company, you are required to comply with annual filing requirements according to the Singapore Financial Reporting Standards.

In accordance with Section 175, Section 197 and Section 201 of the Companies Act, all Singapore incorporated companies are required to hold their Annual General Meeting (AGM), file their annual returns and present their audited accounts.

ARE YOU READY TO:

  • Hold your company’s Annual General Meeting and declare your accounts to shareholders?
  • File your company’s Annual Returns in accordance with the Singapore Financial Reporting Standards (SFRS)?
  • Compile your revenue and file your corporate taxes (Form C/C-S & Estimated Chargeable Income)?

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Frequently Asked Questions

Annual General Meeting (AGM)
A company is required to hold its 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.

Filing Annual Return (AR)
The Annual Return must be filed with the Registrar within one month after the AGM.

Audited Accounts
Accounts presented at the AGM shall be made up to a date not more than 6 months before the AGM.

Filing of Corporate Tax
Filing of Estimated Chargeable Income (ECI) has to be done within 3 months after the end of the financial year unless the company does not need to submit ECI. For filing of Form C / C-S it has to be done annually on 30 Nov; or 15 Dec.

Private Limited Companies (Non-Exempt)Audit of Company AccountsFile Accounts with ACRADeclaration of Solvency
Active and SolventNot Required
Dormant and SolventNot RequiredNot Required
Active and InsolventNot Required
Dormant and InsolventNot RequiredNot Required

The common things passed at an AGM are as follows;

  • Adoption of Accounts Laid at Meeting
  • Approval of Dividends Declared
  • Approval of Directors’ Fees
  • The re-election of Director(s)

The documents required are as follows;

  • Profit and Loss Statement
  • Balance Sheet
  • General Ledger

These documents have to supplied according to Singapore Financial Reporting Standards, if you have trouble with this, do feel free to contact us for help as well.

These are the steps to file your Annual General Meeting and Annual Returns;

  • Onboard a qualified Company Secretary
  • Supply them with your updated business profile and constitution
  • Unaudited/audited financial statements

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The Companies Act does not prescribe the minimum level of qualifications for the person preparing the accounts. However, it will be the responsibility of the directors to appoint individuals with the required level of expertise for preparation of such accounts. These accounts need to be prepared in accordance with Accounting Standards which basically refers to the Singapore Financial Reporting Standards which sets forth accounting standards in Singapore.

Annual Compliance & Tax Filing

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Find Out More about Annual Statutory Compliance in Singapore