ECI waivers: does your company qualify?
Most small companies never need to file ECI. Check the two conditions before you pay an agent to do it.
A Singapore company is waived from filing estimated chargeable income (ECI) if its annual revenue is not more than five million dollars for the financial year and its ECI is nil. Both conditions must be met. If you qualify you do not file at all — there is no separate waiver application. If you do not, you file ECI within three months of your financial year end.
Estimated chargeable income (ECI) is your company's forecast of its taxable profit for a financial year. Many small Singapore companies never need to file it — but they pay an agent to do it anyway, out of habit.
The two conditions
Your company is waived from filing ECI if both of these are true for the financial year:
- Annual revenue is not more than S$5 million, and
- ECI is nil (that is, the company has no estimated taxable income).
Miss either condition and the waiver does not apply.
There is no waiver form
If you qualify, you do nothing — there is no separate application to submit. IRAS simply does not expect an ECI filing from you.
If you must file
If you do not qualify, file your ECI within three months of your financial year end through myTax Portal. Filing early can also let you pay your estimated tax in more instalments. Whether or not you file ECI, you still file the corporate tax return later — see Form C-S vs Form C-S (Lite) vs Form C. You can see your own dates in the deadline tracker.
Frequently asked questions
This guide is general information, not legal or tax advice. Confirm requirements with ACRA and IRAS, or speak to your corporate secretary.