For corporate tax purposes a basis period ie. Filing of Estimated Chargeable Income ECI. Since a company is required to hold its first AGM within 18 months of its incorporation it is true that the first set of statutory audited financial statements cannot cover a period over 18 months in order to have this first set of statutory audited financial statements to be laid before the company at its first AGM. Financial year cannot exceed 12 months. For example a company incorporated in 2020 will receive its first e-Filing notification for YA 2022 in May 2022. For a private company which has dispensed with its AGM after financial statements are sent or all resolutions which were supposed to have been passed at an AGM are passed by written means. On a combined reading of Sections 166 and 210 of Companies Act 1956 it becomes clear that the first AGM must be held within 18 months from date of incorporation and within 9 months from close of the financial year. Can I use the same set of financial statements for corporate tax reporting purposes. Financial statements tabled at AGM must be made up to a date within 4 months for listed company or 6 months for any other company before the AGM date. Balance Sheet Cash Flow Statement and Statement of Changes in Equity.
Our corporate specialist will follow up on the work of corporate tax filing after the compilation of financial statements is signed and agreed by the company. For all subsequent returns your. New companies will start to receive the Form C-S C e-Filing notification only two years after their year of incorporation as most do not close their first set of financial statements in the year of incorporation. Profit and Loss Account Statement of Financial Position ie. And no seperate financial statement is required for 04-Jan-2018 31-Mar-2018. Financial year cannot exceed 12 months. An AGM is a mandatory annual meeting where the company presents its financial statements before the shareholders to give a clear report on the financial position of the business. The Company which comprise the statement of financial position of the Company as at 31 December 2014 the statement of profit or loss and other comprehensive income statement of changes in equity and statement of cash. The financial statements should consist of Statement of Comprehensive Income ie. Hold first AGM within 18 months of incorporation Subsequent AGM.
A company is taxed on the income earned in the preceding financial. Report on the Financial Statements We have audited the accompanying financial statements of ABC Pte. An AGM is a mandatory annual meeting where the company presents its financial statements before the shareholders to give a clear report on the financial position of the business. Financial statements that are presented at the AGM must be made up to a date within 4 months for listed company or 6 months for any other company before the AGM date. For corporate tax purposes a basis period ie. Hold first AGM within 18 months of incorporation and subsequent AGMs yearly at intervals of not more than 15 months b Timeline 2. Figures for immediately preceding period. Can I use the same set of financial statements for corporate tax reporting purposes. Yes for the first set of Financial Statements for a private company the preparation must be made within 18 months after its incorporation but may be circulated beyond the 18-month period so long as the circulation is made within 6 months from the. Financial statements tabled at AGM must be made up to a date within 4 months for listed company or 6 months for any other company before the AGM date.
Filing of Estimated Chargeable Income ECI. For example a company incorporated in 2020 will receive its first e-Filing notification for YA 2022 in May 2022. Balance Sheet Cash Flow Statement and Statement of Changes in Equity. File annual returns within five months for listed companiesor seven months for non- listed companies after financial year end. Depending on whether your company was incorporated before on or after 31 August 2018 different sets of rules on determining a companys FYE will apply. On a combined reading of Sections 166 and 210 of Companies Act 1956 it becomes clear that the first AGM must be held within 18 months from date of incorporation and within 9 months from close of the financial year. Financial statements tabled at AGM must be made up to a date within 4 months for listed company or 6 months for any other company before the AGM date. Since a company is required to hold its first AGM within 18 months of its incorporation it is true that the first set of statutory audited financial statements cannot cover a period over 18 months in order to have this first set of statutory audited financial statements to be laid before the company at its first AGM. The financial statements should consist of Statement of Comprehensive Income ie. Sequoia Economic Infrastructure Income Fund Limited Audited Annual Financial Statements Page 1 Highlights For the period from 30 December 2014 date of incorporation to 31 March 2016 Initial public offering IPO over-subscribed raising net proceeds of 1470 million after issue costs.
An AGM is a mandatory annual meeting where the company presents its financial statements before the shareholders to give a clear report on the financial position of the business. A company is taxed on the income earned in the preceding financial. Can I use the same set of financial statements for corporate tax reporting purposes. Profit and Loss Account Statement of Financial Position ie. Balance Sheet Cash Flow Statement and Statement of Changes in Equity. Below are the key Annual General Meeting rules that apply to private limited companies. For example a company incorporated in 2020 will receive its first e-Filing notification for YA 2022 in May 2022. Our corporate specialist will follow up on the work of corporate tax filing after the compilation of financial statements is signed and agreed by the company. Sequoia Economic Infrastructure Income Fund Limited Audited Annual Financial Statements Page 1 Highlights For the period from 30 December 2014 date of incorporation to 31 March 2016 Initial public offering IPO over-subscribed raising net proceeds of 1470 million after issue costs. Depending on whether your company was incorporated before on or after 31 August 2018 different sets of rules on determining a companys FYE will apply.
