Estimated Chargeable Income (ECI) is a company’s estimate of its taxable profits for a particular Year of Assessment, i.e., chargeable income after deducting all tax-allowable expenses. IRAS relies on the ECI submissions to raise an initial tax assessment and to monitor how businesses are performing across the economy.

You have3 months after your financial year ends to file your ECI. We will send reminders to our clients, so you can focus on growing your business instead of wrestling with tax forms.

An Annual Return is an electronic form you must e-file with ACRA each year to keep the public register current. It lists your company’s key particulars, such as directors, secretary, shareholders, registered address, share capital, and the cut-off date of your latest financial statements or AGM.

All Singapore-incorporated companies, even dormant ones, must file. For private (non-listed) companies, the deadline iswithin 7 months after the financial year-end (5 months if listed). Before filing, ensure you have:

1. 1. Financial statements in XBRL (if required) approved by directors.
      

   2. An AGM held or formally dispensed with.
      

   3. BizFile+ login details or an appointed filing agent.
      

File the AR on BizFile+ and pay the S$60 filing fee. Missing the deadline triggerslate-lodgement penalties; S$300 if filed within three months, S$600 thereafter, and ACRA may prosecute persistent offenders under section 197 of the Companies Act.

We know juggling multiple deadlines is stressful. That’s why we manage your entire compliance calendar and send you reminders well in advance.

Bookkeeping is the foundation, capturing the raw data needed for regular management every month. Year-end financial statements are the culmination, transforming that data into the standardised format that satisfies regulatory requirements and provides credibility to ACRA and IRAS.

Both are essential:bookkeeping ensures operational control, while financial statements ensure compliance with regulations.

Absolutely. We’re your one-stop solution for monthly bookkeeping, management accounts, and year-end financial statements in XBRL format. Additionally, we’ll liaise with your auditors, so you won’t have to act as a middleman between different service providers.

Outsourcing allows you to access expert knowledge without bearing the overhead of a full-time staff. It also ensures your financials are reviewed by professionals who stay updated with the latest regulations.

Under Accounting and Corporate Regulatory Authority (ACRA) rules in Singapore, XBRL stands for eXtensible Business Reporting Language. It is an XML-based standard designed for electronic communication of business and financial data.

The requirement: since 1 November 2007, incorporated companies required to file financial statements with ACRA are mandated to submit them in XBRL format — either a full set of statements or, in certain cases, Financial Statement Highlights in XBRL format.

Why required? XBRL enables efficient, accurate and comparable submission of financial data. It enhances transparency, allows ACRA and other users to analyse data more readily, and improves the quality of regulatory reporting.

For more information, see ACRA’s official page: About XBRL