The annual turnover refers to the company’s overall turnover, or company revenue and is independent of the source of revenue. Sales turnover of products sold overseas is also considered in determining the annual turnover threshold.
The annual turnover is based on calendar year. For example, to determine whether a company meets the annual turnover for the report (containing packaging data for 2021 (T+1)) to be submitted in 2022 (T + 2), this will be based on your company’s annual turnover in 2020 (T). T is the starting year when the threshold is triggered.
Companies, which have financial reporting not based on calendar year, are advised to obtain information from their relevant departments or Finance Department to ascertain the annual turnover based on calendar year.
Source: Singapore National Environment Agency