Companies applying for strike-off
Local companies can refer to ACRA's Guidelines on Closing a Local Company .
One of the conditions that the company has to fulfil in order to be struck-off is that the company must not have any outstanding tax liabilities with IRAS. Hence, the company has to ensure the following:
- All outstanding Income Tax Returns (Form C/ Form C-S) have been submitted;
- Accounts and tax computations have been submitted up to the date of cessation of business*;
- No outstanding tax matters before closure of bank account** (e.g. queries raised by IRAS, objections to assessments, payments, refund of tax credit, etc); and
- GST registration has been cancelled and there are no outstanding GST matters.
**Do note that if there is any tax credit owing to the company that has already closed its bank account, IRAS would not be able to pay to any third party (e.g. director, shareholder). When the company is dissolved, the tax credit due to the company will be paid over to Insolvency and Public Trustee’s Office (IPTO). The shareholders of the defunct company may approach IPTO if they wish to claim the tax credit.
Otherwise, IRAS may object to the strike-off. The company may proceed to apply for strike-off with ACRA once all outstanding tax obligations and liabilities have been settled. There will not be any tax clearance letter issued by IRAS for the purpose of applying for strike-off.
Submitting Income Tax Returns (Form C/ Form C-S), accounts and tax computations
Please submit the company’s outstanding Income Tax Returns (Form C/ Form C-S), accounts and tax computations* with a cover letter stating your intention to apply for strike-off, before proceeding to apply for strike-off with ACRA.
If the company has been dormant since the date of incorporation or since the submission of the last Income Tax Return (Form C/ Form C-S), you may wish to complete the Application for Waiver of Income Tax Return (Form C/ Form C-S) Submission by a Dormant Company (52KB) and submit this form together with a cover letter stating your intention to apply for strike-off, before proceeding to apply for strike-off with ACRA.
*If the company files Form C-S, the accounts and tax computations are not required to be submitted together with Form C-S. They are to be prepared and retained for submission upon IRAS’ request.
Companies applying to cease registration
Singapore branches of foreign companies and foreign companies not registered with ACRA have to inform IRAS in writing if they have ceased registration or business. These companies have to submit accounts and tax computations up to the date of cessation of registration or business. The branches/companies must also settle their outstanding tax matters and tax liabilities before cessation of registration.
If Form C for YA 2014 has been issued to the branch, the branch is required to submit the Form C for YA 2014 together with its accounts for financial year ended 2013 and tax computation for YA 2014 to IRAS. In addition, the accounts for the period up to the date the branch ceased registration and the relevant tax computation should also be submitted.
If the Form C for YA 2014 was not issued, the branch does not need to request for it. The branch can submit the accounts up to the date the branch ceased registration and the relevant tax computation(s) together with a cover letter stating the date of cessation of registration.