Annual review schedule

The financial year of a Singapore company is calculated based on 12 natural months, while the first financial year of a new company can be as long as 18 months. After the end of the financial year of a listed company, a general meeting of shareholders must be held within 4 months and an annual audit must be submitted within 5 months. After the end of the financial year of a non-listed company, a general meeting of shareholders must be held within 6 months and an annual audit must be submitted within 7 months.

Based on AJK’s work experience, we strongly recommend that all companies complete accounting and submit annual audits early in order to avoid fines due to unnecessary delays.

Singapore companies are also required to submit estimated tax (ECI) to the Inland Revenue Authority of Singapore (IRAS). Estimated tax must be submitted to IRAS within three months of the financial year. Therefore, the company must complete the accounting before calculating the estimated tax. The company directors are obliged to ensure that the company's financial statements are witnessed and signed.