Please be reminded of the following Annual Compliance Requirements for Singapore Private Limited companies imposed by the Companies Act.
1. PREPARATION AND AUDIT OF THE FINANCIAL STATEMENTS (FS)
The financial statements will be laid, adopted and approved during an Annual General Meeting (AGM). Depending on your company’s activities, we would recommend to perform your bookkeeping on an annual, quarterly or monthly basis. These financial statements need to be prepared within 6 months from the Financial Year End (FYE).
BlueMeg offers in-house accounting services to prepare these FS.
The company may be required to have its financial statements audited in case it does not qualify as a small entity and therefore does not fall within the scope of the audit exemption.
2. ANNUAL GENERAL MEETING
The company has to convene its Annual General Meeting (AGM) within 6 months from the Financial Year End. During the AGM, the FS will be laid, adopted and approved by the Shareholders of the company.
BlueMeg’s standard service includes preparing of AGM documents.
3. ANNUAL RETURN (AR)
The company has to file its AR with the Accounting and Corporate Regulatory Authority (ACRA) within 1 month of its AGM, i.e. 7 months from the financial year end.
The annual return provides critical information that helps the stakeholders in the company to make informed decisions. The annual return is an electronic form lodged with ACRA through its online filing system and contains important particulars of the company such as the names of the directors, its members and the date to which the financial statements of the company are made up to.
BlueMeg’s standard service includes preparing and filing the AR with ACRA.
4. FILING OF ESTIMATED CHARGEABLE INCOME (ECI)
Within 3 months of the financial year, the company has to file the ECI form with the Inland Revenue Authority of Singapore (IRAS).
BlueMeg’s tax filing service includes the filing of ECI.
5. CORPORATE TAX RETURN
The company needs to file its annual tax return with IRAS each year by November 30. The basis for the filing are the profits for the financial year that ended in the preceding calendar year.
BlueMeg’s tax filing service includes the filing of the Corporate Tax Return.