According to the Singapore Commercial Law, all companies are required to hold an Annual General Meeting of the shareholders and file annual returns with the Inland Revenue Authority (IRAS). The directors of the company are the ones submitting the annual returns (ARs). It is also the directors’ responsibility to appoint qualified individuals to prepare the annual filings and to present these documents to the company’s shareholders. It must also be taken into account that the annual filings must be prepared in accordance with the type of company incorporated.
Depending on the type of company, the directors are required to prepare several documents which must be filed with the IRAS within a pre-established period of time. These documents are:
There are certain types of Singapore companies that are not required to have their financial accounts audited. Also, the first Annual General Meeting for newly incorporated companies must be held within the first 18 months from the registration. All annual filings submitted with the IRAS must be signed by the company’s directors and secretary.
If you want to open a company in Singapore and need information about filing the annual accounting documents, you can refer to our local specialists.
A Singapore company filing for its annual returns with the IRAS must provide the following information:
Financial statements are required only if the company has a corporate shareholder or if it is in insolvency.
If you need assistance in submitting the annual financial documents, do not hesitate to contact our specialists in company formation in Singapore.