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  1. Osome Singapore
  2. Business Vocabulary
  3. Annual Report

Annual Report

Annual Report — company’s yearly responsibilities which include preparing financial statements, an audit of financial statements, filing of estimated chargeable income (ECI), holding AGM, filing annual return with ACRA, filing annual tax return with IRAS. The company secretary and the accountant are in charge of AR.

What exactly should I submit as Annual Report?

First, you update ACRA on the changes that your company has experienced – or lack thereof. There is a misconception that submitting financial statements and filing your Annual Return are two different procedures. In fact, they are one. You submit this data together to ACRA unless your company is exempt from submitting financial statements. Second, there is an annual procedure with IRAS that includes the tax return and filing of ECI.

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