Is your Company required to file financial statements?


Not sure if your Company is required to file financial statements ("FS") for annual return filing? Here is a simple chart to help you.

Your Company is an exempt private company ("EPC") if it is either: -

  • A private company with less than 20 members, and does not have any corporations holding beneficial interest in its shares (whether directly or indirectly); or
  • A private company owned by the Government that is declared in the Gazette to be an exempt private company.

An EPC is not solvent if it is unable to meet its debts when they are due. If your Company is an insolvent EPC, you must file FS as mentioned above.

FILING FS IN XBRL TEMPLATE

If your Company is required to file FS, it must file the FS in XBRL template. This applies even if your Company opts to voluntarily file FS.

 


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