How and when to update IRAS when there is a change in the business name, address, financial year end, principal activity, tax agents, etc.

Business Registered Name and Address

When a business has changed its name and / or registered office address, the change is to be filed with the Accounting and Corporate Regulatory Authority (ACRA) online via BizFile.

There is no need to inform or update IRAS separately of the change in name or address. IRAS will update its records based on the information filed with ACRA as follows: 

Changes filed with ACRA fromRecords at IRAS will be updated byExample
Week beginning from every Sunday to the following SaturdayFriday of the following weekFor changes filed with ACRA between 31 Mar 2019 (Sunday) to 6 Apr 2019 (Saturday), IRAS' records will be updated by 12 Apr 2019 (Friday).

Direct Update with IRAS for Urgent Matters

If you are expecting a tax refund or correspondence from IRAS, i.e. within one week from when the company's particulars were updated with ACRA, please send the company's latest business profile via myTax Mail (log in to myTax Portal) for immediate update of the company's change in business name and/or address. 

GST Mailing Address

You may have separately requested for GST-related correspondences (including any refund cheques) to be sent to another address (i.e. GST mailing address).

To view/update the GST mailing address, the authorised "Approver" should:

  1. Log into myTax Portal
  2. Select "Update GST Contact Details".

Please note that P.O. Box and foreign addresses cannot be accepted as GST mailing addresses. 

Change in Financial Year End

a) Local companies and branches of foreign companies registered with ACRA

Local companies and branches of foreign companies registered with ACRA are required to update their financial year end changes at www.bizfile.gov.sg (Click eServices > Local Company/ Foreign Company > Annual Filing > Change of Financial Year End). 

IRAS will receive information from ACRA by Friday of the following week. You will not be able to update the financial year end via myTax Portal.

b) All other entities
All other entities should inform IRAS of any changes in their financial year end via myTax Mail in myTax Portal.

 

 

Your GST accounting period  may be adjusted in line with your new financial year end. We will inform you in writing if any adjustment is made to your GST accounting period.

Business Constitution or Ownership

When a change in business constitution or ownership (e.g. change in sole-proprietor) takes place, there is a transfer of business from one person to another person.

The previous business constitution/owner is the transferor and the new business constitution/owner is the transferee.

Example: Transfer of Business

When you change the business constitution from sole-proprietorship to private limited company, there is a transfer of business from the sole-proprietor (you) to the private limited company (a separate legal entity).

Transfer of Business as a Going Concern

When the business is transferred as a going concern, the transferee is treated as having carried on the business before and after the transfer for the purpose of determining his liability to be GST-registered.

As a result, the transferee may become liable to be GST-registered on the date of transfer.

  1. Registering for GST by the Transferee

    When the transferee is liable to be GST-registered or wishes to register voluntarily, he needs to submit within 30 days of the date of transfer:

    1. Online Application for GST registration at myTax Portal; and
    2. The latest ACRA business profile.

    The transferee should not charge GST using the transferor's GST registration number. If the transferee is not GST-registered, he is not allowed to claim GST incurred on purchases.

    For details on liability to be GST-registered, please refer to Do I need to register.

    If the new business constitution (i.e. the transferee) has been set up before the date of transfer, the transferee may apply for GST registration before the date of transfer.

  2. Cancellation of GST by Transferor

    The transferor should cancel its GST registration if it no longer makes taxable supplies. The transferor should log into myTax Portal and complete the online application, Cancel GST Registration, within 30 days of the date of transfer .

  3. Transferor Remains GST-Registered

    When the transferor is a sole-proprietor and has other sole-proprietorship businesses that are still making taxable supplies, the combined business turnover may require the transferor to remain GST-registered compulsorily.

    Otherwise, the transferor may choose to remain GST-registered voluntarily. For both cases, the transferor does not need to submit GST F9.

  4. GST on the Transfer of Business Assets

    When a business is transferred, there will usually be a transfer of the business assets.

    To determine if any transfer of assets from transferor to transferee is subject to GST, please refer to transferring businesses.

Change of Partner(s) or Particulars of Partner(s)

When there is a change in partners, please send us the following via myTax Mail (log into myTax Portal) within 30 days of the change:

  1. GST F3: Notification of Liability to be GST-Registered: Details of All Partnerships and Partners (PDF, 53 KB); and
  2. Your latest ACRA Business Profile.

When there is a new partnership business set up with the same composition of partners, please also submit your Online Application for GST Registration at myTax Portal for the new partnership business.

Change in Membership of JV

When there is a change in the membership of a JV, you need to notify IRAS by providing the relevant documents via myTax Mail (log into myTax Portalwithin 30 days of the change.

FAQS

I have converted my sole-proprietorship business to a private limited company. What should I do? I only have 1 sole-proprietorship business.

When your private limited company is liable to be GST-registered or wishes to register voluntarily, you should apply for GST registration online at myTax Portal within 30 days of the date of transfer and submit your latest ACRA business profile together with your application.

To cancel the GST registration of the sole-proprietor and notify the change in constitution from sole-proprietorship to private limited company, you should apply for cancellation of GST registration online at myTax Portal within 30 days of the change.

However, if the private limited company has been set up before the date of transfer, it is advisable to register the new business constitution earlier (i.e. transferee apply for GST registration before the date of transfer).

When a business is transferred, there will usually be a transfer of the business assets. To determine if any transfer of assets from transferor to transferee is subject to GST, please refer to transferring businesses.

How do I submit the required documents to IRAS?

You can send the documents to IRAS via myTax Mail (log into myTax Portal)