This update summarises the regulatory developments, official announcements and policy changes from October 2026 that have practical effects on small and medium-sized enterprises in Singapore. It is written for the founders and directors of Singapore private limited companies.
Company Law
Annual Returns Must Confirm That Company Particulars Are Accurate
From 20 October 2026, a company filing its annual return with the Accounting and Corporate Regulatory Authority (ACRA), Singapore’s companies regulator, must confirm that the particulars it has provided to ACRA are accurate. The confirmation covers the company’s directors, CEO, company secretary, auditors and relevant members, including their names, identification details, nationality, addresses, appointment dates and shareholdings.
The annual return form also includes a new question asking whether any person performs the role of CEO in the company. ACRA advises companies to review and update their particulars in Bizfile, ACRA’s online filing system, before filing the annual return.
Registered Offices No Longer Need to Open for Minimum Hours
From 20 October 2026, companies are no longer required to keep their registered office open to the public for a minimum number of hours on each business day. Each company can now decide the opening hours of its registered office.
A person who wants to inspect company records must give the company reasonable notice, and the company must then make the records available for at least two hours on each relevant business day. A change of registered office address must still be filed with ACRA within 14 days.
Faster Striking-Off and Stricter Rules for Restoring Companies
From 20 October 2026, ACRA has shortened the time needed to strike off a company, which means removing it from the register and dissolving it. This applies both when the company applies for striking-off itself and when ACRA starts the process. A company is legally dissolved or restored at the exact date and time when ACRA removes or restores its name on the register.
The court or ACRA must now refuse to restore a struck-off company if it is likely to be used for an unlawful purpose, or if restoring it would be contrary to Singapore’s national security or interest. Founders who plan to close a company that no longer operates, or to restore one that has been struck off, should take these changes into account.
New Version of the Tool for Filing Financial Statements
Most Singapore companies must file their financial statements with ACRA in XBRL, a structured data format. On 19 October 2026, ACRA released version 4.0.1 of the BizFinx Preparation Tool, the software used to prepare these filings, and companies must switch to the new version by 30 November 2026.
In the new version, the fields for the number of employees are optional, although ACRA encourages companies that are exempt from audit to continue completing them. Some validation results that previously stopped a filing are now shown as possible errors, so a company can confirm that the figures are correct and continue filing without applying to ACRA for an exemption.
Source: https://www.acra.gov.sg/news-events/news-announcements/new-bizfinx-prep-tool/
Tax & Accounting Law
IRAS Introduces New Online Tools to Help Companies File Corporate Tax Returns
The Inland Revenue Authority of Singapore (IRAS), the national tax authority, announced on 19 October 2026 that more than 323,000 companies must file their corporate income tax returns for Year of Assessment 2026 by 30 November 2026. To help them, IRAS introduced new online tools. One tool tells newly incorporated companies whether and when they must file a return. Others help companies organise their business records and check whether their business expenses are tax-deductible.
IRAS also reported that since January 2026 it has issued more than 4,100 notices requiring companies that did not file their returns to attend court. A company that does not file can be fined up to S5,000,plusS100 for each day the failure continues. IRAS states that directors are responsible for ensuring that their company files accurately and on time.
myTax Portal Will Be Unavailable in Late December 2026
IRAS will move myTax Portal, the online system used for tax filing and payments, to a new version in December 2026. Some services will stop from 16 December. All services will be unavailable from 22 to 28 December and will resume from 8:00 AM on 29 December. GST registration will not be available from 19 December.
Drafts that have not been submitted, including drafts waiting for approval, will not be transferred to the new portal. Companies should complete their tax filings, payments and other transactions before the downtime, or save an offline copy of any draft.
Source: https://www.iras.gov.sg/digital-services/others/service-downtime-for-mytax-portal-enhancement
Licensing & Regulatory Compliance
MAS Issues Guidelines on Managing AI Risk at Financial Institutions
On 7 October 2026, the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulator, issued guidelines on how financial institutions should manage the risks of using artificial intelligence (AI). The guidelines apply to all financial institutions that MAS regulates, including licensed fintech and payment companies, and cover all forms of AI, including generative AI and AI agents. They require oversight of AI use by the board and senior management, policies for identifying and managing AI risks, and controls over AI systems supplied by third parties.
Firms may apply the requirements in proportion to the scale and risk of their AI use. They must meet the oversight and risk management requirements by 7 October 2027, and the requirements on controls throughout the life of each AI system and on staff capability by 7 October 2028.
Government Grants, Incentives, Support Schemes
Government Launches AI Adoption Programmes for Large Companies and SMEs
On 27 October 2026, Deputy Prime Minister Gan Kim Yong announced the first group of 24 companies in the Champions of AI programme. Under this programme, Enterprise Singapore (EnterpriseSG), the government agency responsible for SME development, supports companies in using AI across all their operations. The participating companies have also committed to help their smaller suppliers adopt AI. For SMEs, the government is developing shared AI solutions for common problems within an industry, such as route planning in logistics and inventory management in wholesale trade.
EnterpriseSG’s practical workshops have helped close to 300 small businesses build working prototypes of AI tools for their own operations. In addition, more than 100 AI tools have been added to SMEs Go Digital, the government platform that lists pre-approved digital solutions eligible for grant support. A new tool on the platform lets SMEs combine pre-approved solutions into a package that matches their needs.
Funding & Startup Ecosystem
New Partnerships Give Startups Access to US Laboratories and Lenovo’s Customers
On 28 October 2026, Minister Tan See Leng announced that eligible Singapore startups will be able to use the laboratory and prototyping facilities at Bakar Labs at the University of California, Berkeley. The partnership is part of the Global Innovation Alliance, Enterprise Singapore’s network that connects startups with overseas partners and facilities. It covers startups in life sciences, chemistry, materials science, energy and climate technology, and also connects them with researchers, customers and investors in the San Francisco Bay Area.
The minister also launched the Lenovo–Enterprise Singapore Global Accelerator Programme. It connects selected startups with Lenovo’s research laboratories, product teams and enterprise customers, so they can develop and test their solutions with Lenovo and run commercial pilots.
Climate Technology Programme for Startups Extended to 2030
Breakthrough Energy, Temasek and Enterprise Singapore have renewed their Breakthrough Energy Fellows – Southeast Asia programme for a further three years. Breakthrough Energy is the climate technology organisation founded by Bill Gates. The programme supports climate technology startups in developing their technologies and bringing them to market, and has supported 12 companies since it started in 2024. The renewal will fund three more groups of startups from 2028 to 2030.
Three companies have joined as industry partners: Pertamina New & Renewable Energy, Olam Agri and PTT ExpresSo. They will work directly with participating startups and provide industry expertise and access to their market networks.
Tech & Digital Law
CSA Launches a Helpline for Businesses Affected by Cyber Incidents
On 14 October 2026, the Cyber Security Agency of Singapore (CSA) published its Cybersecurity Health Report 2025, based on a survey of 2,005 businesses and non-profit organisations. Almost nine in ten organisations reported at least one cyber incident in 2025, most commonly ransomware, stolen login details and phishing. Among the businesses surveyed, 56% said they lacked the knowledge to improve their cybersecurity, and 46% believed they were unlikely to be targeted.
On the same day, a Cyber Incident Helpline (6890 9555) was launched to help organisations respond to an incident. It provides an initial assessment, advice on next steps and referrals to service providers. SMEs can also use CSA’s CISO-as-a-Service programme, which co-funds up to 70% of the cost of engaging a consultant to prepare a cybersecurity plan.