TaxSavvySG

Changing financial year end

Can we change our FYE to March?

The situation

A company can change its financial year end by filing with ACRA, subject to limits on how often and how long the period is.

The law

  • Sec 197, Companies Act 1967: Annual return filed within 7 months after financial year end

What it means for you

Changing affects ECI, AGM and AR dates, and may need IRAS notice. A long period over 18 months may need approval. A change also moves the start-up exemption YA count and ECI timing, so check the tax effect first. ACRA limits how often a company can change its year end within a set period.

What to do

  1. Pass a resolution.
  2. File on BizFile.
  3. Inform IRAS.
  4. Update the calendar.

We can do this for youAGM and annual return filing: SGD 700

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