In Singapore, corporate income is assessed on a preceding year basis. This means that the basis period for any Year of Assessment (YA) generally refers to the financial year ending (FYE) in the year preceding the YA. For example, in year 2024 you will be filing corporate tax return for your company’s financial year that ended anytime between January 1, 2023 to December 31, 2023. Your company’s accounts are prepared up to the FYE each year. 

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