Companies must file annual returns with ACRA within 7 months of their financial year-end. This includes financial statements, shareholders’ information, and a declaration of solvency if applicable. The company secretary ensures timely filing and compliance with statutory obligations.

No, small companies that meet at least two of the following criteria—total annual revenue below S$10 million, total assets below S$10 million, or fewer than 50 employees—are exempt from audit requirements. However, larger companies must undergo an annual statutory audit to ensure compliance with financial reporting standards.

Companies must file their annual corporate tax return (Form C-S/C) with IRAS by November 30 each year. This includes income, deductible expenses, and tax adjustments. Businesses are also required to file Estimated Chargeable Income (ECI) within three months of the financial year-end to comply with tax reporting obligations.

Proper bookkeeping ensures that financial records are up to date and compliant, which is essential for preparing accurate financial statements required for the annual return. Bookkeeping should include tracking revenue, expenses, and reconciling bank accounts regularly to avoid discrepancies during the year-end reporting process.