The Hidden Costs of Non-Compliance: Fines You Want to Avoid
Running a business in Singapore? It’s easy to focus on sales and growth —
but ignoring compliance can cost you big.
Here’s a breakdown of the penalties you absolutely want to avoid.
1️⃣ Late Annual Return Filing (ACRA)
If you miss your annual return filing deadline:
✅ S$300 fine for each late filing
✅ Possible prosecution for repeat failures
Don’t let this simple task become an expensive headache.
2️⃣ Failure to Hold AGM (Annual General Meeting)
If your company needs to hold an AGM and skips it:
✅ S$300 late penalty
✅ Directors can be held personally liable
💡 Small companies may qualify for AGM exemption — but you must meet the conditions.
3️⃣ IRAS Tax Filing Penalties
File your corporate tax late?
✅ S$200–S$1,000 late filing fee
✅ 5% penalty on unpaid tax, plus additional 1% per month if still unpaid
It snowballs quickly — tax matters should never be “later.”
4️⃣ Ignoring Accounting Records
Failure to keep proper books?
✅ Fines up to S$10,000
✅ Directors can face personal consequences
Proper accounting isn’t optional — it’s a legal duty.
5️⃣ Why Work With Paperwork.sg?
We:
✅ Track your compliance deadlines
✅ Handle filings and documentation
✅ Protect you from costly penalties