A qualified audit opinion is a statement issued by an auditor after an audit has been done, and where there might be: Limitation of scope in the auditors’ work; Disagreement with management regarding the application or adequacy of accounting policies; or The auditor has identified an issue that is material…Read More
Annual Compliance FAQs / Annual Filing Requirements with IRAS
Estimated Chargeable Income (ECI) data facilitates policy-making on a macro level, as well as the assessment of industrial performance. Furthermore, the filing of the ECI is one of the annual corporate compliance requirements in Singapore. It must be submitted to IRAS, the national tax authority within 3 months after the…Read More
Your company has to furnish its Estimated Chargeable Income (ECI) within 3 months after the end of its financial year end. Administrative concession Companies with a financial year in or after Jul 2017 will not be required to file ECI for a particular year if: they do not earn more…Read More
ECI, also known as Estimated Chargeable Income, is an estimate of a company’s chargeable income for a Year of Assessment (YA). In other words, it is the gross amount of income/revenue before SUTE (start up tax exemption) deductions and other items such as gain on disposal of fixed assets. Learn…Read More
Financial Year End (FYE) is the end of the company’s accounting period which typically recurs every 12 months.
Non-compliance with Inland Revenue Authority of Singapore (IRAS) requirements will incur a penalty and/or court prosecution.