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FYE (Financial Year End): Every Singapore Company must plan its Financial Year End (FYE) that represents the completion of its accounting period. It is not necessary that the FYE of a Company matches with the regular annual calendar. It could fall on any day of the year.
The fiscal year of a Company is taken as the financial year. It is up to the Company to decide its FYE, and most Singapore Companies assign 31st December, 31st March, 30th June or 30th September as the ending date of their fiscal year.
It is in the best interests of a Singapore Company to fix their FYE within 365 days. This helps the Company to take advantage of the partial Tax Exemption offered for new start-ups. The Singapore Law offers partial exemption to both new start-ups and older entities.
