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According to the Singapore company law, the first general meeting of shareholders must be held within 18 months after the registration of the company, and the general meeting of shareholders must be held within 15 months in each subsequent natural year. Within 1 month after the holding of the general meeting of shareholders, the annual declaration, i.e. annual inspection, must be made to the commercial registration bureau.
The financial report is required to be presented at the general meeting of shareholders. The financial report must be compiled in English in accordance with the standards of ICPAS and submitted to acra within one month after the general meeting of shareholders (AGM). The period of accounting service can be determined according to the needs of customers.
In each financial year, a Singapore company must submit a financial report in English compiled in accordance with the standards of the Singapore Institute of certified public accountants, including accounting, proposed director's report, director's statement, profit and loss statement, balance sheet, cash flow statement and classification notes, etc
Companies incorporated in Singapore are required to prepare annual accounts, make annual tax estimates and complete tax returns in accordance with the requirements of the government's tax department. Estimated taxable income (ECI) and tax return (Form C) to be submitted in the subsequent corporate tax reporting stage_ S) It's all based on this report.
A company incorporated in Singapore or a foreign company carrying on business in Singapore is subject to corporate tax, or corporate income tax, in Singapore. The company tax is levied on the profits of the enterprise, not the turnover. The tax rate is 17%, and it is declared once a year.
Time of annual:5-7 days
1. Financial report, preparation of financial statements
A private company is eligible for exemption if it has met at least two of the following three criteria in the past two consecutive fiscal years:
The total annual revenue of the company is less than S $10 million
The company has fewer than 50 employees
The total assets of the enterprise shall not exceed S $10 million
3.Submit financial statements in XBRL format to acra If the company has shareholders and is active during the financial year or the company is wound up, it must be filed