From your second financial year
Submit employees income information
Auto-Inclusion Scheme (AIS) for Employment Income. Otherwise, provide Form IR8A and appendices (where applicable) to employees.
By the 1st Mar of your 2nd year, submit employees income information electronically to IRAS if on
File your Estimated Chargeable Income (ECI)
Your partnership entity should file your Estimated Chargeable Income within 3 months of your Financial Year End (FYE) if business receives notification to file.
Receive Allocation of Estimated Profit/Loss to Partners within 7 days after ECI filing.
File your annual declaration with ACRA
File first Annual Declaration within 15 months from the date of the registration of the LLP.
Subsequent declarations must be lodged once every calendar year and not more than 15 months after the lodgment of the last declaration.
File your partnership income tax
file its partnership income tax return (Form P) between 1 Feb to 18 Apr. If a partnership e-files its Form P by 28 Feb, the partnership allocation will be pre-filled into the respective partners’ Form B/B1.
Your partnership must
Receive your Allocation of Profit/Loss to Partners after Form P has been processed.
file an objection within 30 days from the date of your allocation.
If you do not agree with the allocation raised,
For partners within the entity
As a partner within your partnership, you have to file your individual income tax return (Form B/B1) between March 1st and April 18th.
Receive your NOA from the end of April onwards.
Pay your income tax within 1 month from the date of your NOA.
file an objection with 30 days from the date of your NOA.
If you do not agree with the assessment raised,