Company Incorporation
In Singapore

The filing of annual return Singapore is a mandatory compliance requirement for all companies operating in the country. Every business must submit its annual returns to the Accounting and Corporate Regulatory Authority (ACRA) and file annual tax returns with the Inland Revenue Authority of Singapore (IRAS).

In order to comply with local regulation, a private company has to maintain the followings:

• Corporate structure of at least one natural resident director, one shareholder;
• Local company secretary and a registered address in Singapore;
• Filing annual return with ACRA and tax return with IRAS together with annual audited accounts. The accounts must be audited by a registered certified public accountant in Singapore.
• Holding annual general meetings.

For more detailed information on Singapore's annual compliance requirements, refer to ComplyMate.

There are two cases where audit exemption is granted: small companies and dormant companies.

To qualify for "small company", a company must meet 2 out 3 following conditions:

• Its total annual revenue at the end of the financial year in question must not exceed SG$10 million;
• Its total assets evaluated at the end of the financial year in question must not exceed SG$10 million;
• Its total number of full-time employers on the payroll must not exceed 50.
• A company is deemed to be dormant if it has no accounting transactions for the financial year in question or has not started business since its incorporation.

A Singapore company is basically taxed for its profits, regardless of the sources. For the first three years, the company is levied from 0% to 17% depending on its incomes. After that, the tax rates are 8.5% and 17%, respectively for the first 300,000 SGD and the remainder.

The standard Singapore corporate tax rate is 17% on chargeable income. In 2025, companies will also receive a 50% tax rebate capped at SGD 40,000, while large multinational groups may be subject to a 15% minimum effective tax rate under the BEPS Pillar 2 rules.

Newly incorporated businesses can benefit from the Start-Up Tax Exemption (SUTE), which provides a 75% exemption on the first SGD 100,000 of chargeable income and a 50% exemption on the next SGD 100,000 during their first three years.

Companies that do not qualify for SUTE may claim the Partial Tax Exemption (PTE), offering similar relief on up to SGD 200,000 of income. In addition, various industry-specific incentives and tax relief schemes are available.

Learn more about Accounting, Bookkeeping & Tax Filing Services for Singapore companies.

In order to qualify for start-up exemption, a newly incorporated company in Singapore must satisfy below conditions:

• Be incorporated in Singapore (other than a company limited by guarantee**);
• Be a tax resident* in Singapore for that YA;
• Have no more than 20 shareholders throughout the basis period for that YA where:
  • All of the shareholders are individuals beneficially and directly holding the shares in their own names; OR
  • At least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company.

*A company is resident in Singapore if the control and management of its business are exercised in Singapore.