Netiquette has partnered up with ACRA and IRAS to bring you a one system solution that integrates with your company’s overall natural system to automate tax and financial reporting. The aim is to assist in reducing compliance costs of fulfilling all the statutory filing obligations and improving overall productivity effectively. The Seamless Filing solution will enable SMEs to submit directly to ACRA for Annual Return and Simplified XBRL, as well as to IRAS for Form C-S through Netiquette Software.
A company can file Annual Return and Financial Statements (in Simplified XBRL format) with ACRA using the accounting software if it meets the following conditions:
a) The company has revenue of S$500,0001 or less for the current financial year;
b) The company has total assets of S$500,0001 or less as at the current financial year-end; and
c) The company is NOT
1 The amount threshold of S$500,000 is determined based on the current financial year in the financial statements or (where the company is a parent company) consolidated financial statements as required to be prepared under the Companies Act, regardless of the number of months in that current financial year.
A company can file Annual Return with ACRA using the accounting software if it meets the following condition:
a) The company is either:
A company can file Tax Return to IRAS using the accounting software if it meets the following conditions:
a) The company must qualify to file Form C-S, i.e.
b) The company maintains Singapore dollar as its functional and presentation currency;
c) The company is not an investment holding company or a service company that provides only related party services; and
d) The company does not own subsidiaries, associates or joint ventures, and has no investment in intangibles.
For more information on Seamless Filing you may refer to these official websites:https://www.iras.gov.sg/irashome/News-and-Events/Newsroom/Media-Releases-and-Speeches/Media-Releases/2020/New-Seamless-Filing-Initiative-Enables-SMEs-to-Go-Digital/ https://www.businesstimes.com.sg/sme/new-initiative-by-iras-acra-allows-smes-to-seamlessly-prepare-file-returns If you are Singapore’s Chartered Accountants, we do have special package offers for Accounting Partners. Please contact us to know more. You can also book an online free demo session with us! Contact Information: +65 6223 1157 firstname.lastname@example.org