Annual Returns Submission Made Easy With BizFile

Whether you run a business in Singapore or not, it is important to understand the annual filing requirements. These include submitting returns to ACRA, conducting AGM services by CFO ACC SG, and filing taxes with IRAS. Missing these deadlines can result in hefty fines and legal trouble for your company. Therefore, it is crucial to adhere strictly to these filing deadlines and submit accurate financial statements in XBRL format. To make this process easy, many companies opt to use BizFile to handle submissions on their behalf.

Filing annual returns is a statutory obligation for all locally incorporated companies in Singapore. The process ensures that the company’s details are up to date and provides stakeholders with an overview of the company’s current status and compliance with regulatory standards in Singapore. It also demonstrates the company’s commitment to transparency and accountability.

Annual Returns Submission in Singapore: Key Compliance Requirements

A company’s annual return submission requires a number of important details, including up-to-date company information, filing of financial statements and accurate particulars of the company officers. However, the process can be time-consuming, especially when it comes to meeting specific timelines such as filing within 7 months after the FYE, holding AGMs (Annual General Meeting) or opting for written resolutions and adhering to tax filing obligations with IRAS.

To stay compliant, it’s a good idea to seek professional assistance from a registered filing agent or corporate secretarial firm. They have the knowledge and expertise to prepare your annual return submission correctly and on time. Moreover, they’ll know the exact filing requirements and deadlines inside out so that you don’t face any penalties for missing these deadlines.