NEW COMPANIES
INC
01 – Date of Incorporation
This date will set the basis of your deadline. For guide purpose, we will set the date of incorporation as 1 March 2015.
3 Months
02 – Appoint Auditor
Appoint an auditor within 3 months from your incorporation date if your company falls into mandatory audit requirement.
Example 1 June 2015(3 months from 1 March 2015)
6 Months
03 – Appoint Secretary
Mandatory to appoint a secretary within 6 months from incorporation date.
Example: 1 September 2015 (6 months from 1 March 2015)
FYE
04 – Financial Year End
Next, set your financial year end. Typically advisable to set 12 months from incorporation date. Or within 18 months from incorporation date.
Example 28 February 2016
Why advise 12 months? See tax guide.
ECI
05 – Estimated Chargeable Income (ECI)
To file ECI within 3 months from financial year end. Only applicable for those companies with revenue >$1 million and zero tax payable.
Example: 28 May 2016
AGM
06 – Annual General Meeting
Annual General Meeting (AGM) to be held on a date that is earlier of 18 months from incorporation date or 6 months from Financial Year End.
Example: 1 September 2016 or 31 August 2016. 31 August will be the earlier date.
ACRA
07 – Annual Return
To file the annual return with ACRA by way of using Bizfile+. It is mandatory to file within 1 month from AGM.
Example: 30 September 2016
IRAS
08 – IRAS – Form C / Form C-S
Filing due on 30th of November every year. A company is taxed on the income earned in the preceding financial year. This means that income earned in the financial year 2016 (e.g. 28 Feb 2016) will be taxed in 2017.
Example: 30 September 2016
Which form to use? See tax guide.
