A business owner has to be clear with the rhythm of business operations in Singapore by adhering to the holidays and important dates for the business. Those days would act as a guide for business owners in Singapore. Taking note of these key dates in 2023 would ensure your business operates according to the living pace of Singaporeans, making better decisions for your business. If you are a business owner, keep reading to know more about these crucial dates and keep an eye on them.
Singapore is a country that comprises different cultural lifestyles, and due to that, Singapore’s calendar is marked with holidays for different religious and cultural celebrations. The first guide for business owners in Singapore is that there will be 11 paid public holidays in Singapore in 2023. The sequence of the gazette public holidays is as follows:
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New Year’s Day (1 Jan 2023)
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Chinese New Year- First day (22 Jan 2023)
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Chinese New Year- Second day (23 Jan 2023)
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Good Friday (7 April 2023)
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Hari Raya Puasa (22 April 2023)
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Labour Day (1 May 2023)
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Vesak Day (2 June 2023)
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Hari Raya Haji (29 June 2023)
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National Day (9 August 2023)
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Deepavali (12 November 2023)
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Christmas (25 December 2023)
If the holiday falls on a rest day, the next working day will be a paid holiday. In addition, if an eligible employee is required to work on a public holiday that falls on a working day, they will be entitled to an additional day of pay. If the employees are required to work on a public holiday that falls on a non-working day (5-day work), then they will be entitled to one extra day of pay or another day off for the public holiday. In addition to providing a guide for business owners in Singapore, business owners may offer discounts in conjunction with these holidays to encourage business sales in Singapore.
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March school holiday (11 March to 19 March 2023)
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June school holiday (27 May to 25 June 2023)
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Youth day (2 July 2023)
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Day after National Day (10 August 2023)
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Teacher’s Day (1 September 2023)
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September school holiday (2 September to 10 September 2023)
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Children’s Day (6 October 2023)
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December school holiday
a. (18 November to 31 December 2023)
b. (25 November to 31 December 2023)
c. (2 December to 31 December 2023)
The aforementioned holiday may positively impact your business, because Singaporean families will use this time to stroll around with their families. As a result, the visibility of your business may increase significantly. It is also recommended to communicate with your employees regarding their holiday plans, so you have sufficient manpower during the holiday periods, especially long weekends.
3. Due Dates for Filing of Business Documents
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2023 Property tax bill (31 Jan 2023)
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e-Submission of Commission (1 Mar 2023)
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File Estimated Chargeable Income (ECI) (Dec year-end) (31 Mar 2023)
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Apply for CRS Registration (31 Mar 2023)
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File Individual Income Tax (Paper Form) (15 Apr 2023)
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e-File Individual Income Tax (18 Apr 2023)
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File GST return (period ending in Mar) (30 Apr 2023)
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Submit CRS return (31 May 2023)
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Submit FATCA return (31 May 2023)
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File Estimated Chargeable Income (ECI) (Mar year-end) (30 June 2023)
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File Estimated Chargeable Income (ECI) (Jun year-end) (30 Sep 2023)
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File Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C) (30 Nov 2023)
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File Estimated Chargeable Income (ECI) (Sep year-end) (31 Dec 2023)
Failing to file your company’s income tax return by the due date is an offence. Therefore, it is essential to do the filing of the above documents so that your company will not get penalized. Otherwise, you may be at risk of being summoned to court.
These guides are brought to you by Style Adv. Note on these dates would benefit you as a business owner in Singapore. If you need new signage in the new year of 2023 or any occasion listed above, Style Adv is here for you!
