IRAS Estimated Chargeable Income (ECI)
Mr Accountant will like to remind all companies to file their ECI within 3 months from the end of their financial year unless they qualify for the waiver to file ECI.
Company with annual revenue below $5 million for the financial year and ECI is nil for the year of assessment qualify for the waiver to file ECI.
IRAS may issue an estimated NOA if a company fails to file its ECI as required.
As announced in Budget 2016, e-Filing of ECI will be made compulsory in a phased approach from Years of Assessment (YAs) 2018 to 2020
Companies with turnover more than $10 million in YA2017
Companies with turnover more than $1 million in YA2018
Email Mr Accountant at email@example.com to enjoy free consultation on IRAS ECI.