A Company must have efficient tax management as it will have a direct cash flow impact to the Company. Our tax consultants are qualified professionals to recommend the best tax strategies for your companies.
ECI, also known as Estimated Chargeable Income (ECI), is an estimate of a Company’s chargeable income for a Year of Assessment (YA). Every Company is required by IRAS to submit an ECI within 3 months from the end of each financial year unless it is exempted.
All companies must submit annual tax returns to the Inland Revenue Authority of Singapore (IRAS). The deadline to submit audited or unaudited accounts is 30 November annually. Singapore adopts the preceding year basis taxation. Therefore, the profits for the financial year ending in the preceding year will form the basis for filing the tax returns in the current year.
Singapore Tax adopts a progressive personal tax rates, relative to an individuals amount of income. It is mandatory under law to file for your annual personal tax returns to IRAS by 15 April of every year. IRAS diligently enforces the requirements relating to the filing of the personal tax.