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Epica FAQ Series

Should I comply with the IRAS (Inland Revenue Authority of Singapore)?

IRAS Compliance

Should I comply with the IRAS (Inland Revenue Authority of Singapore)?

All the Private Limited Companies in Singapore have to comply with the IRAS (Inland Revenue Authority of Singapore). Annual filings are mandatory for all companies, including dormant companies.

If you fail to remain compliant with IRAS, you may face a penalty or even a court prosecution.

IRAS is a government authority for tax collection, just like in your home country you pay taxes on the business income you are required to do so in Singapore.

Foreigner Package

New Company Setup

S$2,600
S$4,000

Local Package

New Company Setup

S$1,100
S$1,700

Transfer Package

Existing Company

S$1,000
S$1,500

Singapore Branch

New Branch Setup

S$4,000
S$5,000

Representative Office

New Setup

S$2,500
S$3,000

BVI Company

Singapore Bank Account

US$2,200
US$3,000

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