Which companies are required to file the Estimated Chargeable Income (ECI)?

What is ECI and its purpose? Are there any exemptions from Filing Estimated Chargeable Income (ECI)?

ECI or Estimated Chargeable Income of a company is its estimated taxable income of a Year of Assessment after the deduction of tax-allowable expenses.

As per IRAS (Inland Revenue Authority of Singapore), all the companies must submit their ECI within three months after their FYE or Financial Year End. However, some companies qualify for the administrative concession or are not required to submit the ECI due to specific reasons.

A company is not required to file the ECI for a Year of Assessment if:

• It made less than $5 million in earnings for the financial year
• ECI is NIL for the company.

You are required to refer the audited accounts to declare the revenue amount. In case audited accounts are not available, you can refer to the management accounts.