{"id":7893,"date":"2023-10-09T11:21:39","date_gmt":"2023-10-09T03:21:39","guid":{"rendered":"http:\/\/www.biztreemgmt.com\/wordpress\/?p=7893"},"modified":"2023-10-09T11:21:41","modified_gmt":"2023-10-09T03:21:41","slug":"how-to-decide-date-of-incorporation","status":"publish","type":"post","link":"http:\/\/www.biztreemgmt.com\/wordpress\/how-to-decide-date-of-incorporation\/","title":{"rendered":"How to decide Date of Incorporation"},"content":{"rendered":"\n<p id=\"ember5530\">You may need certain degree of courage to start entrepreneur journey. First you need to decide W<strong>hen is the best time to register the company.<\/strong><\/p>\n\n\n\n<p id=\"ember5531\">We all living in digital world now, and company registration can be done anytime from any part of the world. Just click on&nbsp;<a href=\"https:\/\/www.bizfile.gov.sg\/ngbbizfileinternet\/faces\/oracle\/webcenter\/portalapp\/pages\/BizfileHomepage.jspx\">www.bizfile.gov.sg<\/a><\/p>\n\n\n\n<p id=\"ember5532\">So, you have 100% control on date of incorporation.<\/p>\n\n\n\n<p id=\"ember5533\"><strong>What is date of incorporation?<\/strong><\/p>\n\n\n\n<p id=\"ember5534\">This is the date that a company is successfully registered and is placed on the ACRA records.<\/p>\n\n\n\n<p id=\"ember5535\">Public is not allowed to key in future date and no amendment of date AFTER company registered.<\/p>\n\n\n\n<p id=\"ember5536\">Date stated on certificate of Incorporation is consider date of incorporation.<\/p>\n\n\n\n<p id=\"ember5537\">Related article :&nbsp;<a href=\"http:\/\/www.biztreemgmt.com\/wordpress\/what-is-certificate-of-incorporation\/\">What is certifcate of incorporation<\/a><\/p>\n\n\n\n<p id=\"ember5538\"><strong>Consideration point in decide date of incorporation<\/strong><\/p>\n\n\n\n<p id=\"ember5539\"><strong>Preference financial year end date<\/strong><\/p>\n\n\n\n<p id=\"ember5540\">All registered company is required to file financial year end report with ACRA.<\/p>\n\n\n\n<p id=\"ember5541\">Financial year end normally is consist of 12 months accounting period .<\/p>\n\n\n\n<p id=\"ember5542\"><strong>Example :<\/strong><\/p>\n\n\n\n<p id=\"ember5543\">Incorporated on January 2023 , 1st financial year end date will be 31 December 2023 .<\/p>\n\n\n\n<p id=\"ember5544\">Incorporated on April 2023, 1st fianncial year end date will be March 2024<\/p>\n\n\n\n<p id=\"ember5545\"><strong>Question :<\/strong>&nbsp;Can the accounting period less than or more than 12 months ?<\/p>\n\n\n\n<p id=\"ember5546\">Yes. But IRAS will treat it as 3 different year assessment .<\/p>\n\n\n\n<p id=\"ember5547\">IRAS&#8217;s sample case as follow :<\/p>\n\n\n\n<p id=\"ember5548\">Company A was incorporated on 1st January 2019.Company A&#8217;s first financial year end was set on 31st March 2020 and for subsequent years thereafter, the financial year end will be 31st March.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" src=\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095239.png\" alt=\"\" class=\"wp-image-7966\" width=\"840\" height=\"138\" srcset=\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095239.png 897w, http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095239-300x49.png 300w, http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095239-768x127.png 768w\" sizes=\"(max-width: 840px) 100vw, 840px\" \/><\/figure>\n\n\n\n<p id=\"ember5550\"><strong>IRAS point of view&nbsp;<\/strong>:<\/p>\n\n\n\n<p id=\"ember5551\">The 2 financial periods above will be classified into 3 Year Assessment for tax computation as follow :<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" width=\"898\" height=\"351\" src=\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095401.png\" alt=\"\" class=\"wp-image-7967\" srcset=\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095401.png 898w, http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095401-300x117.png 300w, http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095401-768x300.png 768w\" sizes=\"(max-width: 898px) 100vw, 898px\" \/><\/figure>\n\n\n\n<p id=\"ember5553\"><strong>Question<\/strong>&nbsp;: Why 12 months accounting period is important ?<\/p>\n\n\n\n<p id=\"ember5554\">Eligible newly registered company can enjoy tax exemption for first 3 year assessment .<\/p>\n\n\n\n<p id=\"ember5555\">Click&nbsp;<a href=\"https:\/\/www.iras.gov.sg\/taxes\/corporate-income-tax\/basics-of-corporate-income-tax\/corporate-income-tax-rate-rebates-and-tax-exemption-schemes\">here<\/a>&nbsp;for more detail<\/p>\n\n\n\n<p id=\"ember5556\"><strong>company structure ( subsidiary \/ Holding company)?<\/strong><\/p>\n\n\n\n<p id=\"ember5557\">If the newly registered company is subsidiary of another company, is adviseable to have same financial year end with its holding company to have consolidated reporting period .<\/p>\n\n\n\n<p id=\"ember5558\">To have same financial year end with holding company, you must decide date of incorporation carefully.<\/p>\n\n\n\n<p id=\"ember5559\"><strong>Type of business activites<\/strong><\/p>\n\n\n\n<p id=\"ember5560\">If you are catering service provider company, of course incorporation is better to done before festival season .<\/p>\n\n\n\n<p id=\"ember5561\">If invloved with holidays event, incorporation should be done before school holidays season or any public holidays .<\/p>\n\n\n\n<p id=\"ember5562\"><strong>Where to check Date of Incorporation<\/strong><\/p>\n\n\n\n<ul><li>certificate of incorporation<\/li><li>business profile<\/li><li>financial statement<\/li><li>GST application form<\/li><li>Corporate tax form \/ Form C<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>You may need certain degree of courage to start entrepreneur journey. First you need to decide When is the best time to register the company. We all living in digital world now, and company registration can be done anytime from any part of the world. Just click on&nbsp;www.bizfile.gov.sg So, you have 100% control on date<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[165],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>how to decide date of incorporation, date of incorporation,<\/title>\n<meta name=\"description\" content=\"Do you know that wrong date of incorporation may caused Company missed chance to enjoy tax exemption .Click in to check consideration point ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.biztreemgmt.com\/wordpress\/how-to-decide-date-of-incorporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"how to decide date of incorporation, date of incorporation,\" \/>\n<meta property=\"og:description\" content=\"Do you know that wrong date of incorporation may caused Company missed chance to enjoy tax exemption .Click in to check consideration point ...\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.biztreemgmt.com\/wordpress\/how-to-decide-date-of-incorporation\/\" \/>\n<meta property=\"og:site_name\" content=\"Biztree Management\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-09T03:21:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-09T03:21:41+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2023\/09\/Screenshot-2023-09-19-095239.png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#organization\",\"name\":\"biztree management pte ltd\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2022\/02\/BizTree_Logo_200.png\",\"contentUrl\":\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2022\/02\/BizTree_Logo_200.png\",\"width\":200,\"height\":200,\"caption\":\"biztree management pte ltd\"},\"image\":{\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#website\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/\",\"name\":\"Biztree Management\",\"description\":\"Got question ? 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