Welcome to Raffles

Our Services

How can we help you?


	Secretarial
	General
	Company Incorporation
	Branch Registration
	Change of Name
	Changes of Particulars
	Other Information
	Private Companies
	Audit and Assurance
	Taxation
	Corporate Tax
	Individual Income Tax
	Goods and Services Tax
	Business Start Up Service

	FAQ

Q1. What is an Estimated Chargeable Income (ECI)?

ECI is an estimate of a company’s chargeable income for an accounting period (Section 63 of the Income Tax Act).

Q2. What is the benefit of e-filing the ECI?

There are two benefits of e-filing the ECI. Firstly, if you e-file within three months after the accounting period, your company can enjoy the benefit paying the tax in installments. The earlier the ECI is submitted, the higher the number of installments that can be obtained. If the ECI is filed electronically, the number of installments granted is more than if the ECI was submitted manually. Secondly, if you file the ECI within the stipulated time, you will pay tax based on your estimate, otherwise IRAS will issue their own estimate in which case you have to pay the tax irrespective of whether you have any objections to the Notice of Assessment.

Q3. What will happen if I didn't e-file my ECI within three months?

If a company's ECI is not furnished within the stipulated period, the Comptroller may issue a Notice of Assessment based on an estimation of the company's income. If the company does not agree with IRAS' estimated assessment, it has to object in writing within 30 days from the date of being served the Notice of Assessment. Otherwise the estimated assessment will be treated as final even if the Form C submitted subsequently shows a lower taxable amount.