Affidavit Of Gross Sales Template for Singapore

An Affidavit of Gross Sales is a sworn legal document that formally declares your business's revenue figures under oath in Singapore. This document serves as legally admissible evidence in court proceedings and provides official testimony of sales data to various authorities, landlords, or contractual parties. You must understand that this affidavit carries the same legal weight as testimony given in court, making accuracy and completeness essential.

When do you need this document?

You'll need an Affidavit of Gross Sales when your lease agreement contains percentage rent provisions requiring you to pay additional rent based on revenue thresholds. Shopping centres and commercial landlords commonly require these affidavits to verify sales figures for rent calculations. Government agencies may request this document for regulatory compliance, tax investigations, or licensing renewals. Court proceedings involving business valuations, partnership disputes, or contractual disagreements often require sworn sales declarations. Banks and financial institutions may also request affidavits of gross sales when evaluating loan applications or monitoring existing credit facilities.

Key legal considerations

Your affidavit must include accurate gross sales figures without deductions for returns, allowances, or operating expenses unless specifically permitted by the requesting agreement. You must clearly state the reporting period, whether monthly, quarterly, or annually, and ensure all figures align with your official accounting records. Include GST considerations by specifying whether figures are inclusive or exclusive of Goods and Services Tax, as this significantly impacts calculations. The document requires supporting documentation such as audited financial statements, tax returns, or detailed sales records. You must have proper authority to make declarations on behalf of your business, typically as a director, partner, or authorized officer. Remember that providing false information constitutes perjury under Singapore law, carrying potential criminal penalties including fines and imprisonment.

Legal requirements in Singapore

Under the Evidence Act, your affidavit must be sworn before a Commissioner for Oaths, who will verify your identity and witness your signature. The Oaths and Declarations Act requires specific formatting including proper identification of the deponent, clear statements of authority, and formal declaration language. Companies Act provisions mandate that financial declarations align with statutory accounting standards and corporate disclosure obligations. The Goods and Services Tax Act requires accurate reporting of GST-inclusive or exclusive figures, depending on your business registration status. Income Tax Act compliance demands that declared sales figures match your tax submissions to IRAS. The affidavit must include your full legal name, NRIC or passport number, business position, and complete company details including registration numbers and addresses.