IRAS - Striking Off a Company in Singapore
When a company in Singapore decides to cease operations, it may apply for striking off from the Accounting and Corporate Regulatory Authority (ACRA) register. However, before a company can successfully complete this process, it must settle all outstanding tax obligations with the Inland Revenue Authority of Singapore (IRAS). Failure to clear tax matters could delay the striking off application.
Key Requirements for Striking Off
Before applying for striking off with ACRA, a company must meet several conditions set by IRAS to ensure that all tax matters are settled:
- File Corporate Income Tax Returns (Form C-S/ Form C-S (Lite)/ Form C) up to the date of business cessation.
- Settling Outstanding Tax Matters.
- If the company was GST‑registered, GST cancellation and final GST return are submitted.
Striking Off Process
- Once all tax matters are cleared and all required returns are filed, the company can apply to ACRA for striking off.
- IRAS will assess if all tax matters are in order. If everything is resolved, ACRA will proceed with the strike-off application if meets all the ACRA’s conditions.
IRAS Services for Checking Tax Liabilities
To ensure that the company has no outstanding tax matters, use the following IRAS digital services:
- View Corporate Tax Filing Status: Check if your company has pending tax returns or assessments.
- View Notices of Assessment or Letters: Access important notices related to your company’s tax status.
- View Account Summary: Review the balance in your company’s Corporate Income Tax account.
De-registration of Singapore Branches of Foreign Companies
For Singapore branches of foreign companies, similar tax clearance procedures apply. The branch must:
- Notify IRAS when ceasing business in Singapore.
- Submit any outstanding Corporate Income Tax Returns (Form C) and relevant documents.
Striking off a company requires careful attention to tax obligations. Ensure all returns are filed, taxes are paid, and all tax matters are resolved. By following the steps outlined above and utilizing IRAS’ online tools, companies can ensure a smooth and timely strike-off process.
