ECI or Estimated Chargeable Income means the total estimated taxable income of a company at the end of its FYE after tax-allowable expenses are deducted. IRAS (Inland Revenue Authority of Singapore) made it mandatory for all the companies, regardless of how big or small they are, to file their ECI on a timely basis.
A company must fulfill both the conditions mentioned below for ECI waiver:
Any company meeting both criteria is free from filing an ECI.
Every company must file the ECI within three months from the end of its financial year (FYE).
There are several advantages of filing an ECI on a timely basis. These advantages are:
Your accountant files the ECI of your company. In case your company does not have an accountant, you can file it on your own. There are two methods to file ECI of a company.
There are two significant advantages of e-filing.
However, as simple as it may sound, ECI filing can still become a headache for a new entrepreneur or businessman. Our company provides tax filing services. We help you in preparing the ECI statements by working closely with your management and also help you in determining your company’s financial year. Our company also obtains online access codes and e-file the ECI on your behalf.
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