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Revised Penalty Framework for Annual Lodgments W.E.F. 30 APR 2021

REVISED PENALTY FRAMEWORK FOR ANNUAL LODGMENTS WITH EFFECT FROM 30 APR 2021

With effect from 30 Apr 2021, ACRA will implement a 2-tier penalty framework for filing of annual return and annual declaration for all Singapore incorporated companies, Variable Capital Companies (VCC) and Limited Liability Partnerships (LLPs). This is part of ongoing efforts to make compliance simple and to encourage companies, VCC and LLPs to take their statutory obligations on annual reporting seriously. There is no change to the current penalty framework for ad hoc filings. For more details, please click here.


Source: ACRA


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