{"id":95306,"date":"2025-01-17T16:43:50","date_gmt":"2025-01-17T08:43:50","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?p=95306"},"modified":"2026-09-21T21:42:40","modified_gmt":"2026-09-21T13:42:40","slug":"tax-benefits-and-compliance-singapore-company-accounting-period-explained","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/blog\/tax-benefits-and-compliance-singapore-company-accounting-period-explained\/","title":{"rendered":"Tax Benefits And Compliance: Singapore Company Accounting Period Explained"},"content":{"rendered":"<div class=\"wpb-content-wrapper\" id=\"wpb-content-root\"><p>[vc_row][vc_column][vc_column_text]<\/p>\n<style>\n.header-bar{padding:0!important;}<br \/>.top-bar *{font-size:13px!important;line-height:inherit!important;}<br \/>#top-menu *{line-height:inherit!important;margin:0!important;padding:0!important;}<br \/>#primary-menu{line-height:inherit!important;margin:0!important;padding:0!important;}<br \/><\/style>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]<span style=\"font-weight: 400;\">Right after<a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/incorporation\/\"><strong> incorporating your local company in Singapore<\/strong><\/a>, you need to decide on many things, such as appointing a Company Secretary, obtaining licenses, tax registrations, etc. To stay compliant, review the Singapore annual accounting tax filing requirements for 2026, including the <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/blog\/singapore-annual-accounting-tax-filing-requirements-2026-acra-annual-return-iras-eci\/\">ACRA annual return and IRAS ECI<\/a>.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Finalizing the Company\u2019s Accounting Period is one such important aspect that impacts your Company\u2019s compliance requirements, tax reporting deadlines, and financial planning strategies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whether you are an entrepreneur establishing your first company or a seasoned business professional, choosing the right Accounting Period early effectively aligns you with the business cycles and compliance processes, maintaining operational efficiency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, in this blog, we\u2019ll explore how to choose the right Accounting Period, the importance of selecting the same and its impact on statutory obligations<\/span><\/p>\n\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><strong>What Is An Accounting Period?<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">An Accounting period in general refers to the specific time frame for which a Company prepares its financial statements. These statements include the profit and loss account, balance sheet, and cash flow statement, which collectively provide insight of the company\u2019s financial performance and position over the period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This period can vary in length, not strictly confined to a 12-month duration. For instance, a Company might prepare monthly, quarterly, or semi-annual financial reports, each representing a distinct accounting period in accordance with the compliance and reporting requirements of the country of incorporation.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Accounting Period For Singapore Companies<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The <strong>Accounting and Corporate Regulatory Authority<\/strong> (ACRA), Singapore allows for an Accounting Period of<\/span><b> 12 months or 52 weeks.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Companies can choose an accounting period which need not align with the calendar year and suits their business operations, subject to compliance with ACRA\u2019s and Inland Revenue Authority of Singapore (IRAS)\u2019 s guidelines,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, you can have an Accounting Period starting from 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> January 2025 to 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> December, 2025 and also 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> April, 2025 to 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> March, 2026 or any other 12 month period that suits your business operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, if you choose to have a 52-week accounting period beginning from 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> January 2025, your accounting period will end on 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> December, 2025.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Significance Of Financial Year End (FYE)<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">In Singapore, a Company&#8217;s Accounting Period is also its Financial Year and the Company\u2019s financial year end represents the final day of its accounting period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Therefore, if you choose an Accounting Period of 12 months starting from 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> April, 2025, your FYE date will be 31<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> March, 2026 and if you choose an Accounting Period of 52 weeks starting from 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> April, 2025, your FYE date will be 30<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> March, 2026.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Deciding on the FYE is crucial as it determines when your corporate filings and taxes are due each year. Holding the Company\u2019s Annual General Meeting (AGM) also depends on the FYE.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The common choices for FYE in Singapore include 31 March, 30 June, 30 September, and 31 December.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Statutory Compliances Corresponding To The FYE<\/b><\/h2>\n<h3><b>ACRA Filing Requirements<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Under the Singapore Companies Act, 1967, holding the Annual General Meeting of the Company and filing its *Annual Returns (AR), depends on the FYE as per the following table:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><a class=\"dt-pswp-item\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table.png\" data-dt-img-description=\"\" data-large_image_width=\"1400\" data-large_image_height=\"586\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-95359 size-large\" title=\"3ecpa Table\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-1024x429.png\" alt=\"summary table outlining key annual filing requirements and due dates for Singapore businesses.\" width=\"1024\" height=\"429\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-1024x429.png 1024w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-300x126.png 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-768x321.png 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table.png 1400w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Annual Return includes the company\u2019s financial statements and other statutory information.<\/span><\/p>\n<h3><b> IRAS Tax Filing Requirements<\/b><\/h3>\n<p><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">Companies have to file their Estimated Chargeable Income (ECI) and&nbsp;<a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/taxation\/company-income-tax\/\" target=\"_blank\" rel=\"noopener\"><strong>corporate income tax<\/strong><\/a> returns with IRAS within due dates, which are 3 months from the end of the financial year and November 30 of the following year, respectively.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Selecting an appropriate accounting period ensures that these deadlines are manageable and do not conflict with other operational demands.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Changing the FYE<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Singapore Companies Act, 1967 allows Companies to change the FYE for the current or immediate previous financial year subject to the following:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">1) <\/span><span style=\"font-weight: 400;\">They must notify the change to the Registrar of change.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">2) <\/span><span style=\"font-weight: 400;\">The statutory deadlines for the following have NOT passed:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\"> &nbsp; <\/span><span style=\"font-weight: 400;\">Holding of Annual General Meeting (AGM)<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> &nbsp; <\/span><span style=\"font-weight: 400;\">Filing of Annual Return (AR)<\/span><\/li>\n<li><span style=\"font-weight: 400;\"> &nbsp; <\/span><span style=\"font-weight: 400;\">Sending of financial statements<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">3) <\/span><span style=\"font-weight: 400;\">Prior approval of Registrar is taken to change the FYE if:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&nbsp; &nbsp; <\/span><span style=\"font-weight: 400;\">the change results in a financial year of more than 18 months; or<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&nbsp; &nbsp; <\/span><span style=\"font-weight: 400;\">the FYE was previously changed on or after 31 August 2018 for a financial year ending on or after 31 August 2018, and it is within 5 years from the end of that previously changed FYE.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>First Accounting Year and Tax exemption<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">\u00d8<\/span><span style=\"font-weight: 400;\">&nbsp; <\/span><b>First Accounting Year<\/b><span style=\"font-weight: 400;\">: The ACRA allows companies to have the first accounting period lesser than 12 months and also exceeding it, up to 18 months.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00d8<\/span><span style=\"font-weight: 400;\">&nbsp; <\/span><b>Tax Exemption<\/b><span style=\"font-weight: 400;\">: Under the tax exemption scheme of IRAS for new start-up companies, the qualifying companies are granted tax exemptions at the following rate for the first 3 consecutive years of assessments (YA).<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><a class=\"dt-pswp-item\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2.png\" data-dt-img-description=\"\" data-large_image_width=\"1400\" data-large_image_height=\"592\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-95370 size-large\" title=\"3ecpa Table (2)\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2-1024x433.png\" alt=\"comparison of accounting periods and corresponding corporate tax relief for new companies.\" width=\"1024\" height=\"433\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2-1024x433.png 1024w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2-300x127.png 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2-768x325.png 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-2.png 1400w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">\u00d8<\/span><span style=\"font-weight: 400;\">&nbsp; <\/span><b>How To Avail Maximum Tax Exemption Benefit<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The IRAS considers a maximum of 12 months as the \u2018basis period\u2019 for tax assessment. Therefore, whether a company can take maximum tax exemption benefits depends on its chosen FYE.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let us understand with the help of the below situations where a Company incorporated on 1<\/span><span style=\"font-weight: 400;\">st<\/span><span style=\"font-weight: 400;\"> July 2025 chooses different FYEs and closes its accounts in the first year for different periods:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\"><a class=\"dt-pswp-item\" href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3.png\" data-dt-img-description=\"\" data-large_image_width=\"1402\" data-large_image_height=\"1353\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-95367 size-large\" title=\"3ecpa Table (3)\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3-1024x988.png\" alt=\"Table showing scenarios of a company incorporated on 1st July 2025 choosing different FYEs and corresponding first accounting year durations.\" width=\"1024\" height=\"988\" srcset=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3-1024x988.png 1024w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3-300x290.png 300w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3-768x741.png 768w, https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/01\/3ecpa-Table-3.png 1402w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/span><\/p>\n<p><span style=\"font-weight: 400;\">From the above illustration, it is clear that companies should try to close their first set of accounts for a period closer to 12 months to take maximum tax exemption benefits.<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Key Considerations For Deciding An Appropriate Accounting Period<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Businesses should consider the following factors while deciding on the accounting period:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Industry Practices<\/b><span style=\"font-weight: 400;\">: Aligning with the fiscal cycles of the industry may facilitate comparisons and benchmarking.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Operational Peaks<\/b><span style=\"font-weight: 400;\">: Choosing a period that ends after peak operational months provides a more accurate representation of financial performance.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Group Alignment<\/b><span style=\"font-weight: 400;\">: Subsidiaries often align their financial year with the parent company to simplify consolidation.<\/span><\/li>\n<\/ul>\n<p>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2><b>Conclusion<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Understanding the complex laws of Singapore and their practical application can be challenging, especially for businesses that are getting corporatized for the first time.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is where corporate solution provider offers a range of services, <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/blog\/simplifying-company-incorporation-in-singapore\/\"><strong>simplifying the compliance processes<\/strong><\/a>, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Advising on matters like the selection or change of accounting periods;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensuring compliance with ACRA and IRAS filing requirements;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Providing bookkeeping, accounting, and tax planning services.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Partner with <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/\">3E Accounting<\/a> Services, who will be the one-stop solution provider in your journey of <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/incorporation\/\">business corporatization<\/a>, financial reporting and compliance obligations.&nbsp;<\/span>[\/vc_column_text][vc_column_text css=&#8221;&#8221;]    <!-- Bootstrap CSS -->\n    <link href=\"https:\/\/cdn.jsdelivr.net\/npm\/bootstrap@5.3.0-alpha1\/dist\/css\/bootstrap.min.css\" rel=\"stylesheet\">\n\n    <!-- Bootstrap JS and Popper.js -->\n    <script src=\"https:\/\/cdn.jsdelivr.net\/npm\/bootstrap@5.3.0-alpha1\/dist\/js\/bootstrap.bundle.min.js\"><\/script>\n\n    <style>\n        :root {\n            --primary: #126742;\n            --white: #ffff;\n            --black: #000;\n        }\n\n        \/* Call To Action *\/\n        .custom-container {\n            background-color: var(--primary);\n            color: var(--white);\n            padding: 40px 20px;\n            text-align: center;\n        }\n\n        .custom-button {\n            background-color: var(--white);\n            color: var(--black);\n            padding: 10px 20px;\n            border: none;\n            border-radius: 5px;\n            text-decoration: none;\n            display: inline-block;\n        }\n\n        .custom-button:hover {\n            background-color: #e0e0e0;\n            color: black;\n        }\n\n        \/* Accordion *\/\n        .accordion-item {\n            border: none;\n        }\n\n        .accordion-header {\n            transition: background-color 0.3s ease;\n        }\n\n        .accordion-button:not(.collapsed) {\n            background-color: var(--primary);\n            color: var(--white);\n        }\n\n        .accordion-button {\n            background-color: transparent;\n            color: inherit;\n        }\n\n        .accordion-button:focus {\n            background-color: transparent;\n            color: inherit;\n            box-shadow: none;\n        }\n\n        .accordion-button:not(.collapsed) {\n            background-color: var(--primary);\n            color: var(--white);\n        }\n\n        .accordion-button {\n            color: var(--black);\n        }\n\n        .accordion-button:not(.collapsed) {\n            color: var(--white);\n        }\n\n        .accordion-button::after {\n            color: var(--black);\n            font-weight: 600;\n        }\n\n        .accordion-button:not(.collapsed)::after {\n            color: var(--white) !important;\n        }\n\n        \/* Use filled dark bullet points (disc) for the list *\/\n        ul.custom-list {\n            list-style-type: disc;\n            padding-left: 20px;\n        }\n\n        \/* Style the list items *\/\n        ul.custom-list li {\n            margin-bottom: 10px;\n            color: black;\n        }\n    <\/style>\n\n    <br>\n    <div class=\"container rounded custom-container\">\n        <p class='h3'>Optimize Your Accounting Period for Maximum Tax Benefits<\/p>\n        <p>Partner with 3E Accounting Services, your one-stop solution for corporate solutions<\/p>\n        <a href=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/contact-us\/\" class=\"custom-button\">Contact us now!<\/a>\n    <\/div>\n\n    <div class=\"container mt-4 p-0\">\n        <p class=\"h2\" style=\"color: #126742;\">Frequently Asked Questions<\/p><br>\n        <div class=\"accordion p-0 m-0\" id=\"accordionExample\">\n            <div class=\"accordion-item\">\n                <p class=\"accordion-header h2\" id=\"headingOne\">\n                    <button class=\"accordion-button fw-bold fs-5 rounded\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseOne\" aria-expanded=\"true\" aria-controls=\"collapseOne\">\n                        What is the accounting period for a Singapore company?\n                    <\/button>\n                <\/p>\n                <div id=\"collapseOne\" class=\"accordion-collapse collapse show\" aria-labelledby=\"headingOne\" data-bs-parent=\"#accordionExample\">\n                    <div class=\"accordion-body fs-6 border-bottom border-dark\">\n                        <p>An accounting period is a specific time frame for which a company prepares its financial statements. These statements provide an overview of the company\u2019s financial performance and position over the period. It usually spans 12 months but can vary depending on the company\u2019s chosen Financial Year End (FYE).<\/p>\n                    <\/div>\n                <\/div>\n            <\/div>\n\n            <div class=\"accordion-item\">\n                <p class=\"accordion-header h2\" id=\"headingTwo\">\n                    <button class=\"accordion-button collapsed fw-bold fs-5 rounded\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseTwo\" aria-expanded=\"false\" aria-controls=\"collapseTwo\">\n                        Can the accounting period be less or more than 12 months?\n                    <\/button>\n                <\/p>\n                <div id=\"collapseTwo\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingTwo\" data-bs-parent=\"#accordionExample\">\n                    <div class=\"accordion-body fs-6 border-bottom border-dark\">\n                        <p>Yes, the Singapore Companies Act allows companies to choose an accounting period shorter or longer than 12 months for the first set of accounts only. The subsequent periods must not exceed 12 months.<\/p>\n                    <\/div>\n                <\/div>\n            <\/div>\n\n            <div class=\"accordion-item\">\n                <p class=\"accordion-header h2\" id=\"headingThree\">\n                    <button class=\"accordion-button collapsed fw-bold fs-5 rounded\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseThree\" aria-expanded=\"false\" aria-controls=\"collapseThree\">\n                        How is the accounting period related to tax assessment in Singapore?\n                    <\/button>\n                <\/p>\n                <div id=\"collapseThree\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingThree\" data-bs-parent=\"#accordionExample\">\n                    <div class=\"accordion-body fs-6 border-bottom border-dark\">\n                        <p>The accounting period determines the \u2018basis period\u2019 used by IRAS to assess a company\u2019s taxable income for the corresponding Year of Assessment (YA).<\/p>\n                    <\/div>\n                <\/div>\n            <\/div>\n\n            <div class=\"accordion-item\">\n                <p class=\"accordion-header h2\" id=\"headingFour\">\n                    <button class=\"accordion-button collapsed fw-bold fs-5 rounded\" type=\"button\" data-bs-toggle=\"collapse\" data-bs-target=\"#collapseFour\" aria-expanded=\"false\" aria-controls=\"collapseFour\">\n                        How does choosing the right accounting period impact tax exemptions?\n                    <\/button>\n                <\/p>\n                <div id=\"collapseFour\" class=\"accordion-collapse collapse\" aria-labelledby=\"headingFour\" data-bs-parent=\"#accordionExample\">\n                    <div class=\"accordion-body fs-6 border-bottom border-dark\">\n                        <p>To maximize tax exemption benefits under the Startup Tax Exemption Scheme, the first accounting period should be closer to 12 months. Shorter or longer periods may lead to unutilized benefits.<\/p>\n                    <\/div>\n                <\/div>\n            <\/div>\n        <\/div>\n    <\/div>\n<div id=\"gtx-trans\" style=\"position: absolute; left: 142px; top: 29px;\">\n<div class=\"gtx-trans-icon\">&nbsp;<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_title=&#8221;Author Card&#8221;][vc_column][vc_row_inner css=&#8221;.vc_custom_1730870221717{background-color: #126742 !important;border-radius: 5px !important;border-color: #EEEEEE !important;}&#8221;][vc_column_inner][vc_column_text css=&#8221;&#8221;]<\/p>\n<div style=\"width: 100%; text-align: left; padding: 9px; border-radius: 24px; background: transparent;\"><!-- Author Box --><\/p>\n<div style=\"display: flex; align-items: center; margin-bottom: 0px; width: 100%;\">\n<p><img decoding=\"async\" alt=\"Abigail Yu oversees executive leadership at 3E Accounting Group\" style=\"width: 96px; height: 96px; border-radius: 50%; flex-shrink: 0; margin-right: 15px; border: 2px solid #ffffff;\" src=\"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-content\/uploads\/2025\/05\/Abigail-Yu.png\"><\/p>\n<div style=\"flex: 1;\">\n<p style=\"margin: 0; font-size: 32px; font-weight: bold; color: #ffffff;\">Abigail Yu<\/p>\n<p style=\"margin: 0px 0; font-size: 14px; color: #ffffff;\">Author<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"color: white; text-align: left;\">Abigail Yu oversees executive leadership at 3E Accounting Group, leading operations, IT solutions, public relations, and digital marketing to drive business success. She holds an honors degree in Communication and New Media from the National University of Singapore and is highly skilled in crisis management, financial communication, and corporate communications.<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;Connect Now&#8221; style=&#8221;flat&#8221; color=&#8221;white&#8221; align=&#8221;left&#8221; css=&#8221;.vc_custom_1741164803214{padding-bottom: 20px !important;}&#8221; link=&#8221;url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fabigail-yu%2F&#8221;][\/vc_column_inner][\/vc_row_inner][vc_empty_space][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_column_text] [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text css=&#8221;&#8221;]Right after incorporating your local company in Singapore, you need to decide on many things, such as appointing a Company Secretary, obtaining licenses, tax registrations, etc. To stay compliant, review the Singapore annual accounting tax filing requirements for 2026, including the ACRA annual return and IRAS ECI. Finalizing the Company\u2019s Accounting Period is&hellip;<\/p>\n","protected":false},"author":57,"featured_media":95374,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-95306","post","type-post","status-publish","format-standard","has-post-thumbnail","category-blog","category-15","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/95306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=95306"}],"version-history":[{"count":24,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/95306\/revisions"}],"predecessor-version":[{"id":108315,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/95306\/revisions\/108315"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/95374"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=95306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=95306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/tags?post=95306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}