How it works
Singapore lets you choose any year end. For a subsidiary, matching the parent avoids special-purpose accounts every year. For an investor-backed top company, a calendar year is usual. The first financial period can run up to 18 months from incorporation. Changing later is possible but creates a short or long year for auditors and tax.
Worked example
A subsidiary of a group that closes on 31 March, incorporated in November: choose 31 March, and consider a first period ending 31 March of the year after next to save one set of accounts.
Questions people ask
Can the first financial year be longer than 12 months?
Yes, up to 18 months.
Can we change the year end later?
Yes, through ACRA, within limits on period length.
Does the year end affect tax filing dates?
Yes. It decides which year of assessment the profits fall into.
Sources
- ACRA: Submitting your application to set up a local company
- IRAS: Corporate income tax rates, exemptions and rebates
Last checked 1 November 2026. General information only, not advice for your situation. Speak to a qualified adviser before you act.