| Year of Assessment | Statutory filing deadline |
|---|---|
| 2008 | 30 Nov 2009 |
| 2009 and thereafter | 31 Oct of each year |
| Year of Assessment | Statutory filing deadline |
|---|---|
| 2009 | 15 April 2010 |
A company needs to furnish Estimated Chargeable Income (ECI) within three months from the end of its financial year.
For example:
| Financial year-end | Due date for filing ECI | Period covered in the accounts | Year of Assessment (YA) | Due date for filing ECI for that particular YA |
|---|---|---|---|---|
| 31 Dec | 31 Mar of the following year | 1 Jan 2007 to 31 Dec 2007 | 2008 | 31 Mar 2008 |
| 31 Mar | 30 Jun | 1 Apr 2007 to 31 Mar 2008 | 2009 | 30 Jun2008 |
If you furnish your company’s ECI within the qualifying period, you can pay your tax in installments. The earlier you furnish your ECI, the higher the number of installments you get.
To encourage you to e-File, with effect from YA 2008, the number of installments given to those who file ECI electronically is more than that given to those who file ECI using paper ECI Forms.
If your company does not furnish ECI within three months from the end of its financial year, Inland Revenue Authority of Singapore (IRAS) may issue a Notice of Assessment (NOA) based on their estimation of your company’s income.
If you do not agree with their estimated assessment, you must object in writing within 30 days from the date of the NOA. Otherwise, the estimated assessment will be treated as final, even if the actual income based on your Form C and accounts submitted subsequently is lower than the IRAS’ estimates. This means that IRAS will not amend your estimated assessment based on your Form C and accounts since there is no valid objection to the estimated assessment within the stipulated time.
