Annual Compliance Guide For Singapore Companies

COMPLETE GUIDE TO
SINGAPORE COMPANY
ANNUAL COMPLIANCES
P U B L I S H E D B Y E C R A P T E L T D
I N
C O L L A B O R A T I O N
W I T H
W W W . C O M P A N Y S E C R E T A R Y . M E
Annual Compliance Calendar
1 ECI
2
3
AGM
ANNUAL
RETURN
TAX
N
R
U
RET
Within 3 Months from FYE

To be Filed with IRAS
Within 6 Months from FYE
Can be convened in writing
Within 1 Month from AGM

To be Filed with ACRA
Before 30 Nov of next year

To be Filed with IRAS
ECI- Estimated Chargeable Income | FYE- Financial Year End | AGM- Annual General Meeting | ACRA- Registrar of Companies | IRAS- Inland Revenue Authority
For more information visit www.ecra.sg
Estimated Chargeable Income (ECI)

What is
ECI
ECI is estimate of company's

taxable income (after
deducting tax-allowable
expenses)
E C I Filing
EXEMPTION
ECI filing is exempted if:

1.Revenue < $1 million
& 2. ECI is NIL
(both conditions to be satisfied)
When to
FILE
ECI is to be filed with IRAS

within THREE months from
Financial Year End (FYE)
How to
FILE
ECI is to be filed with IRAS

via E-Filing or paper filings.
Contact us at www.ecra.sg
for professional help
4
4
AGM (WRITTEN)
AGM (PHYSICAL)
Physical meeting of
shareholder is covened to
discuss and pass the AGM
resolutions
Shareholders sign AGM

resolutions in writing at the
convenience of being any
where in the world
Compilation in
Accordance with SFRS
(Singapore Financial
Reporting Standards)
DIRECTORS RESOLUTION
FINANCIAL STATEMENTS
BOOK KEEPING
Resolution in meeting
or writing to approve
financial statements
and call AGM
Basic accounting needs

to be completed in any
accounting software
STEPS IN CONVENING AGM OF SINGAPORE COMPANY
For more details contact us at www.ecra.sg
MATTERS TO BE TAKEN UP AT SINGAPORE COMPANY AGM
Adoption of
Financial
Statements
Appoint-ment of
Retiring
Directors
Declare
Dividends
(if any)
Reappointment of Auditors
& fix their remuneration
Visit www.ecra.sg for professional advice
AGM DUE DATE CALCULATION

FOR FIRST AGM AFTER INCORPORATION
Date of Incorporation
+18 months
Financial Year End
+6 months
FOR SECOND & ALL SUBSEQUENT AGM
EARLIEST OF
1 or 2 is AGM
Due Date
Date of Last AGM
+15 months
Financial Year End
+6 months
31 Dec (if no Agm during year)
Once Every Calendar Year
EARLIEST OF
1,2or 3 is AGM
Due Date
Visit www.ecra.sg for more details or professional help
CONTENTS OF FINANCIAL STATEMENTS

OF A SINGAPORE COMPANY
Report of the Directors
Statement by Directors
Report of the Auditors
(if accounts are audited)
Statement of
Comprehensive
Income
Statement of
Changes
in Equity
Statement of
Financial
Position
Statement of
Cash Flow
Notes to the
Financial Statements
Contact us at WWW.ECRA.SG
AUDIT EXEMPTION CRITERIA

FOR SINGAPORE COMPANIES
(SMALL COMPANIES & SMALL GROUPS)
If not
part of
a group
(SMALL COMPANY)
If part
of a
group
(SMALL GROUP)
Criteria:
Revenue $10m
Assets $10m
Employees 50
Must Satify
Any 2 out of
3 Criteria
for past 2 years
The Company
itself Must be a
Small Company
(as per above)
Entire group must be

a small groupon
Consolidated basis
Entire group
must satify
Any 2 out of
3 Criteria
for past 2 years
Contact us at www.ECRA.sg
DOR MA NT COMPA NY
EXEMPT FROM PREPARATION
0F FINANCIAL STATEMENTS
Appointment
of Secretary
BUT STILL MUST

CONVENE AGM
AND FILE
ANNUAL RETURNS
ALLOWED TRANSACTION 1
E
OW
LL
DT
A
NS
RA
N
TIO
Subscriber
Taking his
Shares
Payment of ACRA
Fee, Fines or penalty
Maintenance
of Regd. Office
AL
LO
WE
DT
RA
NS
AC
TIO
N5
Keeping of
registers
and books
Appointment
of Auditors
IF THE COMPANY HAS ANY TRANSACTION OTHER THAN

SIX ALLOWED TRANSACTIONS
THE COMPANY WILL NOT BE CONSIDERED DORMANT
ANNUAL RETURN FILING

Complete the
Conevene the AGM

Verify the Company
and its officers
particulars in ACRA
records
Submit XBRL if your

Company is not an
Exempt Private Company
(EPC)
WITHIN
30 days
of AGM
Provide AGM
and financial
year end details
Complete the declaration

and make payment for
filing fee (and late filing
penalties, if any)
TAX RETURN FILING FOR SINGAPORE COMPANIES

Financial Year End
TAX FILING WAIVER
FILE FORM- CS
If company qualifies for
filing of simplied tax returns
(Form-CS), you have option
of filing either Form C or
Form CS. Not mandatory
to attach complete set of
with Form CS filing
30 Nov of Next Year
If company is dormant
and you wish to keep it so,
you may file waiver to file
tax returns. No future TAX
filing will be needed, unless
Company becomes active
FILE FORM- C
Fot all other companies,
please file form C. Finacial
statements are required
to be attached with Form C
CONSEQUENCES OF NON FILING OF

ANNUAL RETURN FOR SINGAPORE COMPANIES
Timely
Filing
NO
Penalty
Default
Period
UP TO
$600
Minimum $300
Court
Summon
UP TO
$1200
Minimum $600
Arrest
Warrant
UP TO
$1800
Minimum $900
E M A I L U S A T
I N F O @ E C R A . S G
F O R A L L Y O U R S I N G A P O R E
C O M P A N Y C O M P L I A N C E N E E D S

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COMPLETE GUIDE TO

Annual Compliance Calendar

Within 3 Months from FYE

Within 6 Months from FYE

Can be convened in writing

Within 1 Month from AGM

Before 30 Nov of next year

Estimated Chargeable Income (ECI)

ECI is estimate of company's

ECI filing is exempted if:

ECI is to be filed with IRAS

ECI is to be filed with IRAS

Shareholders sign AGM

Basic accounting needs

STEPS IN CONVENING AGM OF SINGAPORE COMPANY

For more details contact us at www.ecra.sg

MATTERS TO BE TAKEN UP AT SINGAPORE COMPANY AGM

Visit www.ecra.sg for professional advice

AGM DUE DATE CALCULATION

Financial Year End

FOR SECOND & ALL SUBSEQUENT AGM

Date of Last AGM

Financial Year End

31 Dec (if no Agm during year)

Once Every Calendar Year

Visit www.ecra.sg for more details or professional help

CONTENTS OF FINANCIAL STATEMENTS

Report of the Directors

AUDIT EXEMPTION CRITERIA

(SMALL COMPANIES & SMALL GROUPS)

Entire group must be

BUT STILL MUST

IF THE COMPANY HAS ANY TRANSACTION OTHER THAN

ANNUAL RETURN FILING

Conevene the AGM

Submit XBRL if your

Complete the declaration

TAX RETURN FILING FOR SINGAPORE COMPANIES

30 Nov of Next Year

CONSEQUENCES OF NON FILING OF

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