Tax clearance reflects that a company must ensure it has settled its pending tax obligations with the IRAS before it closes. If a business is planning to strike off, this involves filing pending Corporate Income Tax Returns by settling tax credits and resolving any unresolved matters with the IRAS.

However, it is not a duty of IRAS to grant a separate tax clearance certificate for businesses applying to strike off. But, they can use their latest Statement of Accounts and Notice of Assessment (NOA) with the help of the myTax Portal for developing their tax status.

Do Companies Need Tax Clearance Before Striking Off?

Yes, companies need to have a tax clearance letter, and they ought to settle their tax obligation matters before filing for a strike-off application to the ACRA. IRAS needs complete Corporate Income Tax Returns to be submitted up to the date the company ceased. The business is supposed to file the required certified accounts, financial statements, and computation of tax for specific YA where Form C is applicable. Moreover, pending assessments, tax credits, and unresolved issues must be addressed. Failure to do so can result in an objection of strike off application by ACRA.

What Type of Tax Returns Should be Submitted Before Closing a Business in Singapore?

The company in Singapore is supposed to first mention the actual closure date and make sure that the Corporate Income Tax Filing has covered the business finances up to date.

• For example, if a financial year end (FYE) of a business is 30^th June and it stops operating on 31^st December, the filing of final tax must be holding for the period up to the business closure, subject to the filing requirements of IRAS filing.

Businesses in Singapore are supposed to check if there are earlier YA with returns pending, tax payments, or assessments. Moreover, it is important to note that businesses in Singapore can check their Corporate Income Tax Filing and their assessment position through the digital services of IRAS.

Is Deregistration of GST Required Before Closure of a Business in Singapore?

Yes, if a business is GST registered, the GST registration should be addressed before completing the process of closing. It has been mentioned by the IRAS that a business applying for strike-off should have its GST registration cancelled with no pending GST matters.

Example

Let us consider a private limited business in Singapore which stopped its operations in August 2026, with no pending corporate tax; however, it has some GST-registered items and some office equipment. This company will go for the strike-off option as it has no other liabilities and assets to settle.

This business should consider the following before applying for strike-off:

• Complete its pending Corporate Income Tax Submission
  • Settle tax liabilities with the IRAS
  • Apply for cancellation with IRAS
  • Submit the final GST return and GST account
  • Assure that there are no outstanding tax matters before striking off

This stops the GST issue from deterring the strike-off application of this business.

How Can A Company Check If It Has Pending Tax Matters?

Directors and shareholders are supposed to check if IRAS has any pending tax returns, assessments, tax payments, or queries before closure of a company. The IRAS offers digital services through the myTax Portal to manage whether there is any Corporate Income Tax and GST status that is unattended. The latest NOA can assist in developing the taxation position of a company, whereas the SOA (Statement of Accounts) reflects the pending tax liabilities.

How Long Does IRAS Take For Tax Clearance Before Striking Off?

The time period depends on the tax affairs of the company. For businesses with straightforward and simple matters, IRAS normally completes the process within 2 months after the required data is submitted.

What Are the Tax Requirements for Strike Off in 2026?

Businesses applying for strike-off that need to file Corporate Income Tax Returns for earlier YA from 1^st August, 2026 are supposed to use the prescribed digital services of IRAS for submitting the latest Form C, Form C-S or Form C-S (Lite) for striking off. Tax computation and financial statements should also be filed where needed.

Conclusion

In the end, it can be concluded that directors and shareholders are supposed to confirm the following before closing a company in Singapore:

• All Corporate Income Tax Returns have been submitted up to the closure date
  • There are no pending tax payments, tax assessments, or unresolved IRAS queries
  • GST registration must be cancelled, if needed
  • Pending GST payments and returns have been completed
  • The latest NOA and SOA of the business have been saved
  • The bank account of a company remains open till pending tax matters and refunds are settled
  • Required tax and accounting records are retained for at least 05 years

Call to Inquire

We at FAST ACCOUNTING are here to assist companies with GST deregistration, tax filing, and compliance and accounting requirements when it comes to closing a business in Singapore, as closing a business in Singapore involves more than filing a strike-off application. GST deregistration, proper tax clearance with IRAS, and final tax filings should be done before closure. Reach out to us today to learn more about our experienced professional corporate secretarial services while you can focus on your core business operations.