Annual Compliance & Accounting: Your Legal Obligations

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Comprehensive accounting services tailored for your business needs.

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Annual Compliance

Ensure your business meets all annual compliance requirements seamlessly.

What exactly is 'annual compliance'? What does it include?

Annual compliance is the mandatory process of fulfilling all ongoing legal and regulatory obligations required to keep your company in good standing with Singapore authorities (ACRA and IRAS) each year. It is not a one‑time task but a recurring responsibility.

This includes:

- Filing of annual return with ACRA

- Maintaining statutory registers

- Holding Annual General Meeting (AGM) where required

-Filing corporate tax returns with IRAS

What specific tasks will you handle, and what do I need to do myself?

We haven't made any profits yet. Do we still have to file?"

Do we need to provide audited financial statements and how do we prepare them?

Yes. The requirement to file is based on your company's existence, not its profitability. Even with zero revenue or a net loss, your Annual Return must be filed with ACRA and your tax form declared with IRAS.

Think of it as your company's annual health check‑up with the government. It confirms you are operating transparently and keeps you in good standing — which is crucial when you become profitable and need to access loans, bank facilities, or attract investors.

Our goal is to handle the complex compliance work so you can focus on your business. You act as the information provider — supplying accurate financial and operational data — while we manage the rest, including filings, deadlines, and regulatory communications.

Our annual compliance fee is based on the complexity of your company's financial transactions throughout the year, ensuring you only pay for the level of service you need.

The fee includes:

• Preparation of unaudited financial statements

• Government filing fees

• Ongoing compliance support service charge

Please note: Even if your company is audit-exempt, you are still required to prepare unaudited financial statements in compliance with Singapore Financial Reporting Standards (SFRS). These statements must be presented to shareholders and filed with ACRA as part of your annual return.

Whether your company requires audited financial statements depends on its size and structure. Most small private companies in Singapore qualify for audit exemption under the Companies Act if they meet the criteria (typically: annual revenue ≤ SGD 10 million, total assets ≤ SGD 10 million, and ≤ 50 employees).

We can assess your audit requirements and manage all arrangements with an accredited accounting firm on your behalf — ensuring a smooth, compliant, and hassle-free process.

How much does this cost? What is included in the fee?

Yes. Filing your Annual Return and tax forms with IRAS is mandatory regardless of profitability. Even if your company has zero revenue or a net loss, you must still file:

• Form C-S / C (Corporate Income Tax return) with IRAS

• Estimated Chargeable Income (ECI) within 3 months of your financial year-end (unless exempted)

Delays can complicate your tax computation and lead to penalties, including fines and loss of good standing.

To help you avoid these risks, our tax team proactively manages the entire process — preparing your tax submission forms, tracking their status with IRAS, and ensuring accurate calculation of any tax payable (or loss carry‑forward). We keep you fully compliant so you never miss a deadline.

Good to know: Unused losses can be carried forward to offset future taxable profits, subject to shareholding continuity tests. We help you track and maximise these benefits.

We haven't made any profits yet. Do we still have to file our tax return ?"

Beyond Duty – Our Commitment to Your Peace of Mind

What happens if I miss the filing deadline?

Late or missed filings can result in penalties from ACRA and IRAS, including financial fines and a negative mark on your company's compliance record. In severe cases, your company may be struck off the register. With our compliance support, you never miss a deadline — we track and file everything on your behalf.

We handle the complexities of compliance — including record‑keeping, annual filings, and tax submissions — so you can focus on what you do best: growing your business.

For more details email : contact@iwomenasia.com

Disclaimer: Iwomen Asia LLP does not provide tax or legal advice. Offshore incorporation services are offered via independent licensed partners. Clients must comply with all tax laws in their home jurisdiction. We do not facilitate tax evasion, asset concealment, or any unlawful activity.