Knowledge Highlights 13 January 2020
The Accounting and Corporate Regulatory Authority (“ACRA”) has announced that, with effect from 27 December 2019, all companies may file their annual returns (“AR”) with greater ease as most of the information in the online AR form on ACRA’s online filing portal, BizFile+, will be pre-filled by taking reference from the previous AR filing. Companies will have to verify that the pre-filled information is still relevant for the current AR, or update accordingly if there are any changes, before submission.
ACRA has also streamlined the user interface for the online AR form for a more intuitive layout. This allows companies to update or review the information in the AR form over a fewer number of pages.
In August 2018, ACRA had already simplified the online AR form for solvent exempt private companies (“Solvent EPCs”) and private dormant relevant companies (“DRCs”) by pre-filling most of the information in the AR form of such companies. This latest initiative by ACRA enables all companies, including Solvent EPCs and private DRCs, to use one common online AR form that has been further simplified.