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ACRA Annual Filing Requirement

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ACRA Annual Filing Requirement

2021-02-05T09:35:34+08:00January 6, 2015|1 Comment

The Accounting and Corporate Regulatory Authority (ACRA) enforces the laws and other legal requirements related to a company’s statutory compliance. A company which does not comply will receive a severe punishment.



All companies incorporated in Singapore must abide by the statutory compliance set by ACRA when it comes to annual filing requirements. If you have a registered company in Singapore, you are obligated to meet these requirements, including enlisting Company Secretary Services. ACRA is the Accounting and Corporate Regulatory Authority of Singapore.

To register a company in Singapore, you must have the required number of directors and shareholders. Corporate secretarial services are a requirement. You must also have an official company seal for business matters.

Your Singapore company secretary will over matters pertaining to the company. This includes assisting the directors, preparing the share certificates and share transfers, and overseeing the register of members and board resolution. The Company Secretary will also ensure all the legal requirements are met by the company.

Filing Annual Returns of a Local Company

All locally incorporated companies must hold their Annual General Meeting (AGM). They must also file their annual returns under S175, S197 and S201 of the Companies Act. At the AGM, directors shall present a true and fair view of the company’s accounts to their shareholders. The Companies Act does not prescribe the minimum level of qualifications for the person preparing the accounts. However, the directors will be responsible for appointing individuals who have the required level of expertise to prepare the accounts.

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ACRA Annual Filing Requirement

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Paul Hype Page can assist you with your ACRA annual filing requirements. We can also assist with your company secretary service needs. For more information, contact us today.

ACRA Annual Filing Requirement FAQs

What is Form C?2020-06-23T13:17:47+08:00

A company must declare its income by completing the Income Tax Form for companies. This is known as Form C and must be completed each year.

IRAS will send the first Form C to a newly incorporated company in the second year following the year of incorporation.

Thereafter, Form C for subsequent YAs will be sent to your company in March or April every year.

You may need to request for the first Form C to be sent to you earlier, that is, in the year immediately after the year of incorporation (instead of the second year following the year of incorporation) under certain circumstances.

Note that income is assessed on a preceding year basis. This means that the basis period for any YA generally refers to the financial year ending in the year preceding the YA.

Example 1

Your company is incorporated on July 1, 2007, and its financial year end is June 30.

If your company’s first set of accounts covered the period from the date of incorporation (July 1, 2007) to June 30, 2008, your accounts will be for YA 2009. You do not need to request for Form C for YA 2008.

Example 2

Your company is incorporated on July 1, 2007 and its financial year end is December 31.

If your company’s first set of accounts covered the period from the date of incorporation (July 1, 2007) to December 31, 2007, your accounts will be for YA 2008. In this case, you have to request for Form C for YA 2008.

  • Form C can be requested via the form titled “Request for Form C for Newly Incorporated Companies or Companies Granted Waiver to Submit Form C/Change of Particulars (36KB)”.
  • If a company’s first set of accounts covered the period from the date of incorporation to December 31 of a particular year, accounts will be for the YA after the December 31 which ends the period. There is no need to request for Form C for the YA before it.

Accounts for a given period are to be submitted with the Form C. Form C will be sent to a company in March or April. When filing Form C for a YA, separate tax computations must be submitted for each of two YAs if accounts cover a period of more than 12 months. Income must also be apportioned for each period, and a letter stating that tax computations for the two YAs are enclosed must be attached.

Why must Singapore have Tax exemptions on International air travel and shipping Income?2020-06-23T13:17:28+08:00

The countries to which these tax exemptions apply are heavily involved in shipping and air routes to and from Singapore. Therefore, these exemptions encourage the people of these countries to continue to engage with and conduct business activities in Singapore.

How to claim for tax exemption?2020-06-23T13:16:53+08:00

You are required to make a declaration in your income tax returns by giving the nature and amount of the foreign-sourced income that was remitted to Singapore. You are also required to complete the Declaration Form for Foreign-Sourced Income Received in Singapore From 22 Jan 2009 to 21 Jan 2010 (60KB) for submission to IRAS. Although you have to state the use of the foreign income in the declaration form, the usage of such foreign income will not affect the claim for tax exemption.

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