Overview of Singapore Company Compliance
Running a company in Singapore comes with annual statutory obligations. Staying compliant with ACRA and IRAS (Inland Revenue Authority of Singapore) requirements protects your company from fines, legal action, and damage to your business reputation.
Key Annual Compliance Requirements
1. Annual General Meeting (AGM)
Private companies are generally exempt from holding AGMs unless they are a private company that is not an exempt private company (EPC). However, if a shareholder or auditor requests one within 4 months of financial year end, it must be held.
2. Annual Return Filing with ACRA
Every Singapore company must file an Annual Return (AR) with ACRA. Deadlines: within 5 months (listed companies) or 7 months (non-listed companies) of financial year end. The AR confirms your company’s key details — directors, shareholders, and financial statements.
3. Financial Statements Preparation
Companies must prepare financial statements in accordance with Singapore Financial Reporting Standards (SFRS). Small companies (meeting 2 of 3 criteria: revenue ≤S$10M, assets ≤S$10M, employees ≤50) are exempt from audit requirements.
4. Corporate Income Tax (Form C-S or Form C)
All Singapore companies must file Estimated Chargeable Income (ECI) with IRAS within 3 months of financial year end. Annual tax returns must be filed by 30 November (paper) or 15 December (e-filing).
5. GST Returns (if GST-registered)
GST-registered companies must file quarterly GST returns within one month of each quarter end. Companies with taxable turnover exceeding S$1 million must register for GST.
6. CPF and Payroll Compliance
Employers must submit CPF contributions for all employees by the 14th of each month (or last working day if submitting online).
Penalties for Non-Compliance
ACRA and IRAS impose significant penalties for late or missed filings. Late Annual Returns attract fines of S$300–S$600. Late tax returns can result in penalties of up to 5× the tax amount.
Annual Compliance Checklist
- File Estimated Chargeable Income (ECI) within 3 months of FYE
- Prepare and file audited/unaudited financial statements
- File Annual Return with ACRA
- File Corporate Income Tax return by November/December
- Submit quarterly GST returns (if applicable)
- Submit monthly CPF contributions by 14th of each month
- Renew business licences as required
Our corporate secretary team manages all your annual compliance — contact us today.