Regulatory requirements

Annual Filing

As part of ACRA’s corporate compliance, companies are required to ensure Annual Filings are done in a timely and proper fashion. Late or incorrect filings may incur penalties. We can assist you to prepare and file all required documentation including Director’s Report, Financial Statements.

Our Accounting and Bookkeeping Services includes but not limited to the following functions:

  • Unaudited Financial Statements Preparation
  • General Ledger Maintenance
  • Accounts Payable Ledger Maintenance
  • Accounts Receivable Maintenance
  • Fixed Assets List
  • Bank Reconciliation
  • Management Reporting
  • Cash flow projections

Why us?

  • Reduce headcount on accounting staff
  • Readily available professional advice
  • Ensure Client Confidentiality
  • Option to use online accounting software

Dormant company filings

Companies considered “Dormant” are still required to make the following annual filings:

  • For the first year of dormancy, companies are required to file a waiver to file Form C (Corporate Tax return) to IRAS.
  • For subsequent years, no other filings to IRAS are required unless the company starts to generate revenue again.
  • ACRA does not exempt dormant companies from any of its filing requirements.
  • Nonexempt (non EPC) private companies are exempted from requiring its accounts audited if they are dormant.
  • Therefore all dormant companies need to prepare its accounts in accordance with SFRS/IFRS (prescribed Singapore accounting standards), convene its AGM physically or by written means and complete annual return filings with ACRA within prescribed time limits.

Other points of note

Companies considered “Dormant” are still required to make the following annual filings:

  • Company secretarial annual retainer fees will still be charged irrespective of fact that the company is dormant.
  • Similarly accounting charges for preparation of accounts as per SFRS/IFRS and tax filings charges are also chargeable.
  • Dormant nonexempt private companies, although not required to submit audited accounts, are still required to file XBRL.