Coneisc’ ACCOUNTING REQUIREMENTS POPULAR OFFSHORE IN fg JURISDICTIONS M eaSingapore Maintain proper bookkeeping records and accounting documents in accordance with the Singapore Financial Reporting Standards (SFRS) File the whole set of financial statements in XBRL format of the financial year to which the accounting entry Financial records must be kept in 5 years from the end relates. 4Hongkong £ Keep financial records of all transactions, including profits, revenues, expenses f& File first tax report 18 months from the date of incorporation’ £ 3 types of tax returns to file to the IRD: Employer's Return, Profit Tax Return and Individual Tax return Companies have to keep financial reports in either hard copy or electronic form for at least 7 yearsSeychelles £ Not required to summit financial reports, but mandatory to keep accounting records £ Record all IBC’s transactions and the company’s financial affairs # Document all business activities The documents shall be available for 7 years since the date the transaction was made.Belize = Not required to summit financial reports, but mandatory to keep accounting records £ Documents to be kept: All bank slips, cash books, contracts, invoices, and other documents reflecting the business operations, assets, and liabilities, etc. The records shall be available to the authorities for 7 years.British Virgin Islands £ Keep the accounting records for 5 years £ Documents to be kept: invoices, contracts, and also the documents reflecting( incoming and outgoing payments; sale and purchase agreements; company assets and lia- bilities) The records of any business deals must be kept for 5 years and available to be checked upon request