ECI Filing Singapore: When, How, and Who Gets Waiver [2025]
3 months after your financial year-end. ECI filing deadline. Miss it and IRAS issues estimated assessment. Usually higher than actual. You pay the full amount within 1 month. No instalments. No negotiation.
ECI = Estimated Chargeable Income. It's your estimate of taxable profits for the year. Filed BEFORE your actual tax return (Form C/C-S). Two separate filings. Two deadlines.
The confusion most companies face: "I already file Form C in November. Why file ECI in March?" Because IRAS wants an early estimate. They use it to issue early tax assessment and give you payment instalments if you're on GIRO.
Quick answer on who needs to file:
Most small companies with revenue ≤ $5M and zero taxable income don't file. Automatic waiver. But if you have any taxable profit or revenue exceeds $5M, you must file within 3 months of financial year-end.
This guide covers when you must file, who gets waiver, how to calculate ECI correctly, the filing process, and what happens if you're late. By the end, you'll know exactly whether you need to file and how to do it.
Table of Contents
- What Is ECI?
- ECI vs Form C/C-S: What's the Difference?
- Do You Need to File ECI?
- Companies Specifically Not Required to File ECI
- Filing Deadline: 3 Months from Financial Year-End
- Why File Early: The GIRO Instalment Benefit
- How to Calculate ECI
- Step-by-Step: How to File ECI
- After Filing: Payment and Assessment
- When ECI Figures Change
- Late Filing or Not Filing ECI
- First-Time Filers: New Companies
- Common ECI Filing Mistakes
- Frequently Asked Questions
- Making Your Decision: What's Next
What Is ECI?
ECI = Estimated Chargeable Income.
Your estimate of taxable profits for the year.
Not:
- Revenue
- Accounting profit
- Net profit from your P&L
It is: Taxable income after:
- Deducting tax-allowable expenses
- Adding back non-deductible expenses
- Deducting capital allowances
- Deducting losses brought forward
- BEFORE tax exemptions
Example:
Your P&L shows net profit of $100,000.
But your ECI might be $80,000 because:
- $15,000 of expenses aren't tax-deductible (entertainment, depreciation, car expenses)
- $5,000 capital allowances claimable (equipment, renovation)
- $10,000 losses from previous year
$100,000 + $15,000 - $5,000 - $10,000 = $80,000 ECI
Why IRAS Wants It
IRAS wants early estimate of your tax liability.
Allows them to:
- Issue early tax assessment
- Start tax collection sooner
- Give you payment instalments (if you file early and on GIRO)
- Plan tax revenue collection
For you:
- Spread tax payment over 6-10 months (if file early)
- Avoid lump sum payment later
It's an ESTIMATE
Key point: ECI is not your final tax figure.
You file actual figures later in Form C/C-S (by 30 November).
Management accounts acceptable. Don't need finalized audited financials. Reasonable estimate is fine.
If estimate wrong:
- Too high: IRAS refunds overpaid tax automatically
- Too low: Pay additional tax when file Form C/C-S
Large differences may trigger IRAS questions, but no penalty for honest estimation error.
When You File It
Within 3 months of your financial year-end.
Example:
- Financial year ends: 31 December 2024
- ECI deadline: 31 March 2025
Separate from Form C/C-S deadline (30 November).
ECI vs Form C/C-S: What's the Difference?
Two separate tax filings. Different deadlines. Different purposes.
Side-by-Side Comparison
| Feature | ECI | Form C/C-S |
|---|---|---|
| What it is | Estimate of taxable income | Actual final tax return |
| When to file | Within 3 months of FYE | By 30 November |
| Based on | Estimate/management accounts | Final financials |
| Documents required | None | Form C requires full documents |
| Can skip? | Yes (if meet waiver conditions) | No (everyone must file) |
| Payment | Within 1 month of assessment | Within 1 month of assessment |
| Instalments | Yes (if file early + GIRO) | Usually no |
Timeline Example
Company with 31 December financial year-end:
31 December 2024: Financial year ends
31 March 2025: ECI filing deadline (3 months)
- File estimate of taxable income
- Based on management accounts or reasonable estimate
- IRAS issues Notice of Assessment
- Pay tax via instalments (if filed early + GIRO)
30 November 2025: Form C-S filing deadline
- File actual final tax return
- Based on finalized financials
- IRAS compares to ECI
- Refund if overpaid, additional payment if underpaid
Key Differences Explained
Purpose:
- ECI: Early estimate for IRAS planning and taxpayer instalment payment
- Form C/C-S: Actual final income and tax calculation
Accuracy:
- ECI: Estimate is acceptable, can be reasonably close
- Form C/C-S: Must be accurate, based on actual finalized figures
Documents:
- ECI: Just enter figures in portal, no documents submitted
- Form C: Must submit financial statements, tax computation, supporting documents
- Form C-S: Prepare documents but don't submit (retain for IRAS request)
Consequences of not filing:
- ECI: Estimated assessment issued (usually higher), must pay immediately
- Form C/C-S: Composition fee, court summons, prosecution
Both Are Required
Getting ECI waiver doesn't mean you skip Form C/C-S.
Even if you don't file ECI (because you qualify for waiver), you still must file Form C/C-S by 30 November.
They're independent requirements.
Why Two Filings?
System designed to:
- Get early tax revenue for government
- Give businesses time to spread payments
- Allow filing based on estimates when finals not ready
- Reconcile later with actual figures
Other countries have similar systems (quarterly estimated tax payments).
Do You Need to File ECI?
The general rule: ALL companies must file ECI within 3 months of financial year-end.
UNLESS you meet the waiver conditions OR you're specifically exempt.
The ECI Filing Waiver
You don't need to file if BOTH conditions are met:
Condition 1: Annual revenue ≤ $5 million
Revenue = main income from principal business activity.
Includes:
- Sales of goods
- Service fees
- Trading income
Excludes:
- Interest income
- Dividend income
- Rental from investment properties (if not main business)
- Gains from asset disposal
Condition 2: ECI is nil (zero)
Zero taxable income BEFORE tax exemptions.
How you get nil ECI:
- Made losses (expenses exceed income)
- Previous losses offset current profit completely
- Dormant company with no activity
Important: Calculate ECI BEFORE deducting partial tax exemption or start-up tax exemption. IRAS applies these automatically.
Wrong: Profit $50K, less start-up exemption $50K = $0 ECI → Think don't need to file
Correct: Profit $50K (before exemptions) = $50K ECI → Must file
Self-Assessment (No Application Needed)
If both conditions met, you simply don't file. No need to:
- Apply for waiver
- Inform IRAS
- Get confirmation
IRAS may still show "Ready to File" in myTax Portal. Ignore if you qualify.
Quick Decision Tree
Step 1: What's your revenue?
- ≤ $5M → Go to Step 2
- More than $5M → Must file ECI
Step 2: What's your ECI (before exemptions)?
- $0 (nil) → Don't file (waiver applies)
- Positive amount → Must file ECI
Examples
Company A:
- Revenue: $3M
- ECI: $50K profit
- Must file (ECI not nil)
Company B:
- Revenue: $3M
- Expenses: $3.2M
- ECI: $0 (made losses)
- Don't need to file (waiver applies)
Company C:
- Revenue: $6M
- ECI: $0
- Must file (revenue exceeds $5M)
Company D:
- Revenue: $0
- Expenses: $30K
- ECI: $0 (dormant, made losses)
- Don't need to file (waiver applies)
If You're Unsure
File ECI when in doubt.
Better to file unnecessarily than miss filing and get estimated assessment.
No penalty for filing when you could have used waiver.
Companies Specifically Not Required to File ECI
Beyond the revenue/ECI waiver, certain entities never file ECI regardless of revenue or profits.
Foreign Ship Owners/Charterers
If your local shipping agent files Shipping Return on your behalf, you don't file ECI.
Foreign Universities
Foreign universities operating in Singapore don't file ECI.
Designated Unit Trusts
Specific types don't file:
- Designated unit trusts
- Approved CPF unit trusts
Income under Sections 35(12) and 35(12A) of Income Tax Act isn't taxed at trustee level, so no ECI required.
Real Estate Investment Trusts (REITs)
REITs with tax treatment under Section 43(2) of Income Tax Act don't file ECI.
Not all REITs - only those with this specific treatment.
Cases Granted Specific Waiver by IRAS
IRAS may grant specific waiver for special circumstances or industries.
If granted, you'll have written confirmation.
For Most SMEs
None of these exemptions apply.
If you're a standard Singapore private limited company, the only way to avoid ECI filing is meeting waiver conditions (revenue ≤ $5M and ECI nil).
Otherwise, file within 3 months of financial year-end.
Filing Deadline: 3 Months from Financial Year-End
File within 3 months of your financial year-end (FYE).
Examples by Financial Year-End
| Financial Year End | ECI Filing Deadline |
|---|---|
| 31 December | 31 March |
| 31 March | 30 June |
| 30 June | 30 September |
| 30 September | 31 December |
Calculate Your Deadline
Your FYE + 3 months = ECI deadline
Examples:
- FYE: 28 February → Deadline: 31 May
- FYE: 31 May → Deadline: 31 August
- FYE: 31 August → Deadline: 30 November
Weekend or Public Holiday
Deadline stays the same date even if it falls on weekend or public holiday.
Example: 31 March falls on Sunday. Deadline is still 31 March. System accepts submissions on weekends.
No automatic extension to next business day.
IRAS Notification
IRAS sends notification in the last month of your financial year.
Example:
- FYE: 31 December
- Notification sent: December
- Reminds you to file by 31 March
Didn't receive notification? Still must file if you don't qualify for waiver.
If You File Late
Filed after 3-month deadline but before IRAS issues assessment:
- Filing accepted
- But no payment instalments (lose GIRO benefit)
- Must pay full tax immediately
Filed after IRAS issues estimated assessment:
- Must pay estimated amount
- File objection within 2 months
- Provide actual ECI
Changed Financial Year-End
Updated FYE with ACRA but IRAS records not updated yet?
Still file based on actual FYE. IRAS updates from ACRA records later.
May need to file for short period if FYE change crosses Year of Assessments.
Key Takeaway
3 months from FYE. Non-negotiable.
File early for payment instalment benefit (covered next section).
Why File Early: The GIRO Instalment Benefit
File early, get more payment instalments.
Only applies if you're on GIRO for corporate income tax.
The Instalment Schedule
| File ECI Within | Number of Instalments |
|---|---|
| 1 month of FYE | 10 instalments |
| 2 months of FYE | 8 instalments |
| 3 months of FYE | 6 instalments |
| After 3 months | 0 (pay full amount immediately) |
Example: December Year-End
Company with FYE 31 December, tax payable $12,000:
File by 26 January:
- Get 10 instalments
- $1,200 per month
- First deduction: February or March
- Last deduction: November
File by 26 February:
- Get 8 instalments
- $1,500 per month
File by 26 March:
- Get 6 instalments
- $2,000 per month
File in April:
- 0 instalments
- Pay $12,000 immediately (within 1 month of assessment)
Requirements for Instalments
Must have all three:
- Singapore-registered company
- On GIRO for corporate income tax
- File within 3 months of FYE
Plus: Minimum $50 per instalment (if tax less than $50, no instalments anyway)
Setting Up GIRO
Must set up at least 3 weeks before filing ECI.
GIRO arrangement must be approved before payment due date for instalments to apply.
If GIRO not approved by payment due date: Pay full amount within 1 month, no instalments.
How to set up: Via myTax Portal → Corporate Income Tax → GIRO Application
When First Instalment Deducts
Depends on when you file within the month.
Example: File in January
File between 1-20 January:
- First deduction: 6 February
- Amount: Regular instalment ($1,200 if 10 instalments on $12K)
File between 21-26 January:
- First deduction: 6 March
- Amount: Double instalment ($2,400)
- Combines February + March payments
- Then regular monthly from April onwards
No Instalment If File Late
File after 3-month deadline: No instalments even if on GIRO.
Must pay full amount within 1 month of assessment.
Why This Matters
Cash flow benefit.
$12,000 tax:
- All at once: Pay $12,000 in one month
- 10 instalments: Pay $1,200/month over 10 months
Significant difference for cash flow planning.
Key Takeaway
File by 26th of first month after FYE for maximum instalments (10 months).
Requires GIRO setup at least 3 weeks before filing.
How to Calculate ECI
ECI = your estimated taxable profit after all tax adjustments.
The Basic Formula
Start with: Net profit from P&L
Adjust:
- Remove separate source income (interest, dividends, rental)
- Add back non-deductible expenses (depreciation, entertainment, car expenses)
- Deduct capital allowances (equipment, renovation)
- Deduct losses brought forward
Result: ECI (before tax exemptions)
Don't Deduct Tax Exemptions
File ECI BEFORE deducting:
- Partial tax exemption
- Start-up tax exemption
IRAS applies these automatically when computing your tax.
Quick Example
Net profit: $50,000
- Less rental income: ($5,000)
- Add back depreciation: $3,000
- Add back car expenses: $2,000
- Less capital allowances: ($8,000)
ECI: $42,000
Use Management Accounts
Don't need finalized audited financials.
Reasonable estimate based on management accounts is acceptable.
If actual differs when you file Form C/C-S later, IRAS refunds or collects the difference.
Need Detailed Tax Computation Help?
Full guide on tax adjustments, capital allowances, and preparing tax computation:
Read: SME Deductible Expenses Guide
Covers what's deductible, what's not, and how to calculate correctly.
Key Takeaway
Most errors happen in calculating ECI, not filing it.
If unsure about calculation, get professional help. Wrong ECI = wrong tax paid = reconciliation issues later.
Step-by-Step: How to File ECI
Filing ECI takes 5-10 minutes once you have the figures ready.
Before You Start
Requirements:
- Corppass authorization (Approver role for Corporate Tax)
- Singpass
- Company UEN
- Calculated ECI amount
- Revenue figure
Set up GIRO (optional but recommended): Do this at least 3 weeks before filing if you want payment instalments.
The Filing Process
Step 1: Log into myTax Portal (mytax.iras.gov.sg)
Use Corppass for companies.
Step 2: Navigate to "File Estimated Chargeable Income (ECI)"
Step 3: Select Year of Assessment
System shows available YAs based on your FYE.
Step 4: Enter revenue amount
Your main income for the year.
Step 5: Enter ECI amount
Under the 17% tax rate category (unless have special schemes).
Step 6: Indicate if claiming start-up tax exemption
Select yes/no. IRAS applies exemption automatically if yes.
Step 7: Review and submit
Check all figures before submitting.
Step 8: Save acknowledgement
Download and save confirmation page. Shows submission date and reference number.
Detailed myTax Portal Guide
For detailed walkthrough of using myTax Portal for tax filing, including screenshots and step-by-step navigation:
Read: Corporate Tax Filing Singapore Guide - Filing Process Section
Covers Corppass setup, portal navigation, and completing tax forms.
User Guides from IRAS
For companies: File ECI User Guide (PDF, 590KB)
For tax agents: File ECI User Guide (PDF, 616KB)
After Submission
Acknowledgement page shows:
- Submission date and time
- Reference number
- ECI amount filed
- Revenue amount filed
Save this page. You'll need reference number if querying IRAS later.
Notice of Assessment follows within days to weeks (covered next section).
Common Filing Issues
Issue: Can't find File ECI option
Check your Corppass authorization. Must be assigned "Approver" role for Corporate Tax.
Issue: Wrong financial year-end shown
Update with ACRA first. IRAS syncs from ACRA records.
Issue: System timeout
Portal times out after 15 minutes of inactivity. Save draft if need to step away.
Issue: Error when submitting
Clear browser cache, try different browser, or contact IRAS at 1800 356 8622.
Key Takeaway
The filing itself is simple. The hard part is calculating ECI correctly.
Get the calculation right (Section 7), filing takes 10 minutes.
After Filing: Payment and Assessment
IRAS processes your ECI and issues Notice of Assessment.
Notice of Assessment
Issued within days to weeks of filing.
Shows:
- Tax payable
- Payment due date (1 month from assessment date)
- GIRO instalment schedule (if applicable)
Check myTax Portal to view Notice of Assessment.
If ECI is nil: No Notice of Assessment issued. Nothing to pay.
Payment Deadline
1 month from assessment date.
Not from filing date. From the date IRAS issues the Notice of Assessment.
Example:
- Filed ECI: 15 March
- Assessment issued: 25 March
- Payment due: 25 April
Payment Methods
Option 1: GIRO (Recommended)
Automatic deduction via instalments.
Requirements:
- Filed within 3 months of FYE
- GIRO approved before payment due date
- Minimum $50 per instalment
Instalments:
- 10 instalments if filed within 1 month of FYE
- 8 instalments if filed within 2 months
- 6 instalments if filed within 3 months
First deduction on 6th of the month (see Section 6 for timing details).
Option 2: Electronic Payment
Internet banking:
- Log into corporate bank account
- Select "Pay Government Agencies" or "IRAS Payment"
- Enter tax reference and amount
NETS, phone banking: Also available.
Check IRAS payment options for all methods.
If You Can't Pay
Experiencing cash flow issues?
IRAS support measures:
- Payment plan applications
- Defer payment requests
Contact IRAS before deadline. They're more lenient if you communicate early vs ignoring payment.
Read: IRAS support for payment difficulties
Late Payment Penalties
5% penalty if tax remains unpaid after payment due date.
Plus: Further enforcement action:
- Legal action
- Recovery proceedings
- Director liability in some cases
What If Tax Different Later?
ECI is estimate. Actual tax calculated when you file Form C/C-S later.
Overpaid (ECI tax > actual tax):
- IRAS refunds automatically
- No action needed from you
Underpaid (ECI tax < actual tax):
- Pay additional tax within 1 month of Form C/C-S assessment
- No penalty if ECI was honest estimate
Large difference: IRAS may ask why estimate significantly different from actual. Be prepared to explain (e.g., unexpected major expense, business decline).
Key Takeaway
Pay within 1 month of assessment.
Set up GIRO for automatic instalments. Much easier than lump sum payment.
If can't pay, contact IRAS before deadline. Don't ignore.
When ECI Figures Change
Two scenarios where ECI amounts differ from what you expected.
Scenario A: ECI Different from Form C/C-S (Natural Reconciliation)
ECI is estimate. Form C/C-S filed later shows actual figures. Usually different.
This is normal and expected.
If actual chargeable income LESS than ECI:
You overpaid based on estimate.
What happens:
- IRAS automatically refunds overpaid amount
- Refund to registered bank account
- Processed within weeks of Form C/C-S assessment
No action needed.
If actual chargeable income MORE than ECI:
You underpaid based on estimate.
What happens:
- IRAS issues revised assessment
- Shows additional tax owed
- Payment due within 1 month
You must pay the difference.
Example:
ECI (March): $100K chargeable income → Tax $8,500 paid
Form C-S (November): $120K actual → Tax $10,500
Difference: Pay additional $2,000
Large differences:
IRAS may ask why estimate significantly different from actual.
Valid reasons:
- Unexpected major expense
- Business declined after ECI filing
- One-time income not anticipated
- Management accounts vs final accounts difference
No penalty for honest estimation error. Penalty only for deliberate understatement.
Scenario B: Revising ECI After Filing (Error Correction)
Discovered error in your ECI calculation after filing but before Form C/C-S?
You can revise the ECI itself.
When to revise ECI:
- Calculation error discovered
- Forgot major income/expense
- Used wrong figures
- Management accounts significantly different from what you filed
How to revise:
Use "Revise/Object to Assessment" service at myTax Portal.
For companies: User Guide - Revise Assessment (PDF)
For tax agents: User Guide - Revise Assessment (PDF)
What happens after revision:
Revised ECI higher than original:
- IRAS issues revised assessment
- Pay additional tax
Revised ECI lower than original:
- IRAS refunds overpaid tax
GIRO instalments may be adjusted if revision happens before payments complete.
Key Takeaway
Natural difference (ECI vs Form C/C-S): IRAS reconciles automatically. Part of the system.
Error in ECI: Revise immediately via myTax Portal. Don't wait until Form C/C-S filing
Late Filing or Not Filing ECI
Miss the 3-month deadline, consequences start immediately.
What Happens If You Don't File
Stage 1: Estimated Assessment
IRAS estimates your income and issues Notice of Assessment.
How they estimate:
- Based on previous years' income
- Based on other information available
- Usually HIGHER than actual
You receive: Notice of Assessment with estimated tax amount.
Stage 2: Must Pay Estimated Amount
Payment deadline: 1 month from assessment date.
Even if:
- You disagree with amount
- You're preparing actual figures
- You plan to object
Must pay estimated tax immediately. No instalments.
Stage 3: File Objection
Can object to estimated assessment within 2 months.
What to provide:
- Reason for late/non-filing
- Actual ECI amount
- Supporting calculation
Important: Must still pay estimated tax while waiting for objection outcome.
Stage 4: Enforcement Action
If don't pay estimated tax:
Penalties:
- 5% penalty on unpaid tax
- Further legal action
- Recovery proceedings
IRAS takes non-payment seriously.
Example: Late Filing Scenario
Company with FYE 31 December:
31 March: ECI deadline (missed)
15 April: IRAS issues estimated assessment
- Estimated income: $150K
- Estimated tax: $12,000
- Based on previous years
15 May: Payment deadline (1 month from assessment)
Company must:
- Pay $12,000 immediately
- File objection with actual ECI
- Wait for IRAS review
If actual ECI was only $80K:
- Actual tax: $6,500
- Overpaid: $5,500
- IRAS refunds difference after review
Filing Late But Before Estimated Assessment
Filed after 3-month deadline but IRAS hasn't issued estimated assessment yet?
What happens:
- Filing accepted
- Assessment issued based on your filed ECI
- But no GIRO instalments
- Must pay full amount immediately
Lose instalment benefit for being late.
Can You Get Extension?
Generally no.
ECI deadline is firm: 3 months from FYE.
Exceptional circumstances:
- System issues (IRAS-side)
- Natural disaster
- Serious illness
"Waiting for accounts" or "busy" are not valid reasons.
Cost of Late Filing
Direct costs:
- Lose GIRO instalment benefit (pay lump sum)
- If estimated assessment issued: Usually higher than actual
- 5% penalty if don't pay estimated amount
Indirect costs:
- Time dealing with objection process
- Cash flow disruption (lump sum payment)
- IRAS compliance record affected
If You're Going to Be Late
Best action: File ECI even if it's rough estimate.
Better to file approximate figure on time than accurate figure late.
Can always revise later if needed.
Don't: Wait until perfect calculation while deadline passes.
Key Takeaway
Late filing = estimated assessment = pay immediately = no instalments.
File on time even if estimate is rough. Can refine later.
If genuinely can't file, file objection immediately after estimated assessment with actual figures.
First-Time Filers: New Companies
New companies must file ECI. No grace period for being new.
When Does a New Company File First ECI?
Depends on when you close your first set of accounts.
Most common scenario:
- Incorporated: 15 March 2024
- First FYE: 31 December 2024
- First ECI deadline: 31 March 2025 (3 months after FYE)
IRAS Notification
IRAS sends ECI notification in the last month of your financial year.
Timeline:
- Incorporated: 2024
- First FYE: 31 Dec 2024
- First notification: December 2024
- Reminds you to file by 31 March 2025
If You Close Accounts in Incorporation Year
Scenario:
- Incorporated: May 2024
- Decided to close first accounts: 31 Dec 2024 (same year)
- First ECI deadline: 31 March 2025
You won't receive notification in 2024 (incorporation year).
But you're still required to file if you close accounts.
IRAS notifications start from year after incorporation, but filing requirement exists if you close accounts.
First Year ECI: What If Made Losses?
Many new companies make losses in first year.
Check waiver:
- Revenue ≤ $5M? (likely yes for new company)
- ECI nil due to losses? (likely yes if made losses)
Both yes: Don't need to file ECI (waiver applies)
Revenue > $5M in first year: Must file even if losses (ECI = $0)
First Year With Profit
Made profit in first year?
Must file ECI (no waiver if ECI > 0).
Calculate ECI:
- Accounting profit
- Add back non-deductibles
- Deduct capital allowances
- Result = ECI
File within 3 months of first FYE.
Example: New Company Scenarios
Company A:
- Incorporated: March 2024
- First FYE: Dec 2024
- Revenue: $200K
- Made losses: $50K
- ECI: $0 (nil)
- Don't need to file (waiver applies)
Company B:
- Incorporated: March 2024
- First FYE: Dec 2024
- Revenue: $800K
- Profit: $80K
- ECI: $70K (after adjustments)
- Must file by 31 March 2025
Company C:
- Incorporated: March 2024
- First FYE: Dec 2024
- Revenue: $6M (successful first year)
- Made losses: $100K
- ECI: $0
- Must file (revenue exceeds $5M, waiver doesn't apply)
First Period Longer Than 12 Months
Some companies close first accounts covering more than 12 months.
Example:
- Incorporated: 1 June 2023
- First FYE: 31 December 2024 (19 months)
Must split into 2 Years of Assessment:
- YA 2024: 1 Jun 2023 to 31 May 2024 (12 months)
- YA 2025: 1 Jun 2024 to 31 Dec 2024 (7 months)
ECI filing:
- File YA 2024 ECI by 31 March 2024
- File YA 2025 ECI by 31 March 2025
Need to apportion income/expenses to each YA.
Don't Assume You're Exempt
"We just started, surely don't need to file yet."
Wrong.
All companies file ECI unless meet waiver (revenue ≤ $5M AND ECI nil).
Being new doesn't exempt you.
Get Help With First Filing
First-time filing is where most errors happen.
Don't know:
- How to calculate ECI
- What's deductible
- How capital allowances work
- When to file
Professional help for first filing prevents costly mistakes.
Learn the process properly from the start.
Key Takeaway
New companies file ECI same as established companies.
First filing due 3 months after first FYE.
Check if qualify for waiver (revenue ≤ $5M and ECI nil).
If unsure about calculation, get professional help for first filing.
Common ECI Filing Mistakes
Mistakes that cost time, money, and create IRAS issues.
Mistake 1: Thinking Waiver Means Skip Form C/C-S
The error: "I qualified for ECI waiver, so I don't need to file Form C/C-S."
Reality: ECI waiver only exempts you from ECI filing.
Must still file Form C/C-S by 30 November. Separate requirement.
Both filings required unless:
- ECI waiver: Revenue ≤ $5M AND ECI nil (skip ECI only)
- Form C/C-S: Everyone must file (no waiver)
Mistake 2: Including Tax Exemptions in ECI
The error:
- Profit before exemptions: $50K
- Deduct start-up exemption: $50K
- Think ECI = $0, don't file
Reality: Calculate ECI BEFORE tax exemptions.
IRAS applies exemptions automatically.
Correct:
- Profit: $50K
- ECI to file: $50K (don't deduct exemptions)
- Must file because ECI > 0
Mistake 3: Confusing Revenue with ECI
The error: "My revenue is $3M, so my ECI is $3M."
Reality:
- Revenue = gross income
- ECI = taxable profit after expenses, adjustments, allowances
Very different numbers.
Example:
- Revenue: $3M
- Expenses: $2.5M
- Add backs: $100K
- Capital allowances: $50K
- ECI: $550K
Mistake 4: Not Filing When Revenue Exceeds $5M
The error: "I made losses, so I don't need to file."
Check revenue first: Revenue > $5M? Must file even if ECI is nil.
Waiver requires BOTH:
- Revenue ≤ $5M
- ECI nil
Example:
- Revenue: $6M
- Made losses: $200K
- ECI: $0
- Must still file (revenue exceeds $5M)
Mistake 5: Waiting for Audited Accounts
The error: "I'll file ECI when audit is complete."
Audit takes 3-4 months. ECI deadline is 3 months after FYE.
Reality: ECI based on estimate. Management accounts acceptable.
Don't wait for perfect figures and miss deadline.
Better: File reasonable estimate on time, revise if needed later.
Mistake 6: Not Setting Up GIRO Early
The error: File ECI early but no GIRO set up.
Result: Lose instalment benefit. Must pay lump sum.
Fix: Set up GIRO at least 3 weeks BEFORE filing ECI.
GIRO must be approved before assessment date for instalments.
Mistake 7: Filing Wrong Year of Assessment
The error: Financial year ends 31 Dec 2024, file for YA 2024.
Correct: Financial year ending 31 Dec 2024 = YA 2025.
Year of Assessment is year AFTER financial year-end.
Example:
- FYE: 31 Dec 2024 → YA 2025
- FYE: 31 Mar 2025 → YA 2026
- FYE: 30 Jun 2025 → YA 2026
Mistake 8: Not Keeping Calculation Records
The error: File ECI, don't save calculation workings.
Later IRAS queries, can't explain figures.
Reality: Keep all workings:
- How you calculated ECI
- Tax adjustments made
- Capital allowances claimed
- Why certain amounts included/excluded
Need these when:
- Filing Form C/C-S later (for consistency)
- IRAS queries figures
- Preparing next year's ECI
Mistake 9: Assuming Dormant = No Filing
The error: "Company is dormant, automatically don't file."
Check conditions:
- Revenue: $0 ✓
- ECI: $0 ✓
- Both met = waiver applies
But if:
- Dormant company has any income (even interest from bank account)
- ECI not nil
- Must file
Dormant doesn't automatically mean waiver.
Mistake 10: Missing Deadline Because "No Notification"
The error: "I didn't receive IRAS notification, so thought don't need to file."
Reality: Required to file within 3 months of FYE whether notification received or not.
Notification is courtesy reminder, not trigger for filing requirement.
Especially affects:
- New companies closing first accounts in incorporation year
- Companies that changed FYE
- IRAS records not updated
Still must file if don't qualify for waiver.
Mistake 11: Filing Nil When Should File Zero
The error: Think "nil" means "don't file anything."
Clarification: "Nil ECI" means ECI = $0 (zero).
If revenue > $5M and ECI is $0: Must file ECI showing $0 amount.
Enter "0" in the ECI field, not skip filing.
How to Avoid These Mistakes
Before filing:
- Verify waiver eligibility (both revenue AND ECI conditions)
- Calculate ECI before exemptions
- Set up GIRO at least 3 weeks early
- Use management accounts, don't wait for audit
- Double-check Year of Assessment
While filing:
- Enter correct YA
- File ECI amount before exemptions
- Save all calculation workings
After filing:
- Save acknowledgement
- Keep calculation records
- Set reminder for Form C/C-S deadline
Key Takeaway
Most mistakes are preventable with basic understanding of:
- What waiver actually covers
- How to calculate ECI
- When filing is required
One consultation with tax professional prevents these errors.
Frequently Asked Questions
Do I need to file ECI if my company is dormant?
Check waiver conditions:
- Revenue $0 AND
- ECI $0
Both met? Don't file.
But if dormant company has ANY income (even bank interest), might not be nil ECI. Calculate first.
Can I file ECI without finalized accounts?
Yes. Use management accounts or reasonable estimate.
Don't need audited financials. ECI is estimate by nature.
File on time with best estimate. Reconcile later when filing Form C/C-S.
What if I file nil ECI then later discover profit?
Revise immediately via myTax Portal.
Use "Revise/Object to Assessment" service.
Better to correct yourself than wait for IRAS to discover when you file Form C/C-S.
Do I need accountant to file ECI?
Not required by law.
Reality: Most companies use accountant because:
- Calculating ECI requires tax knowledge
- Knowing what's deductible is complex
- Errors cost more than professional help
Filing itself is easy. Calculation is hard.
What if ECI notification shows wrong financial year-end?
Still file based on actual FYE.
Then update correct FYE with ACRA via BizFile+.
IRAS syncs from ACRA records.
Can tax agent file ECI for multiple clients at once?
Yes. Maximum 4 clients per submission for optimal system performance.
More than 4 may cause errors or slow processing.
What happens if I don't have GIRO but filed early?
Lose instalment benefit.
Must pay full tax amount within 1 month of assessment.
Fix for future: Set up GIRO now for next year.
Can I claim start-up tax exemption in ECI?
Don't deduct the exemption in calculation.
Just indicate "Yes" when portal asks if claiming start-up exemption.
IRAS applies exemption automatically when computing tax.
File ECI amount BEFORE exemptions.
What if my functional currency is not SGD?
Prepare ECI in your functional currency.
Convert to SGD for portal entry using average exchange rate for the year.
Update Corporate Profile in myTax Portal to show non-SGD functional currency.
How long must I keep ECI records?
5 years from end of Year of Assessment.
Keep:
- Calculation workings
- Management accounts used
- Tax adjustment schedules
- Supporting documents
Same retention period as other tax records.
What if I changed financial year-end?
File ECI for each period separately.
Example:
- Changed FYE from 31 Dec 2024 to 31 Mar 2025
- Must file two ECIs:
- YA 2025: 1 Jan 2024 to 31 Dec 2024 (due 31 Mar 2025)
- YA 2026: 1 Jan 2025 to 31 Mar 2025 (due 30 Jun 2025)
Need separate calculations for each YA.
Can I file ECI if it's past 3 months?
Yes, if IRAS hasn't issued estimated assessment yet.
Filing accepted but:
- Lose GIRO instalment benefit
- Must pay lump sum
Better late than never. File immediately.
What if I'm Corppass Preparer, not Approver?
Preparer can enter data but cannot submit.
Only Approver can file with IRAS.
Get company to assign you Approver role for Corporate Tax in Corppass.
Do I need to file if qualified for start-up exemption?
Start-up tax exemption doesn't affect whether you file ECI.
If ECI > 0, must file (even if fully exempt after applying start-up exemption).
File ECI before exemptions. IRAS applies exemption automatically.
What counts as "revenue" for waiver threshold?
Main income from principal business activity.
Includes: Sales, service fees
Excludes: Interest, dividends, rental from investments, asset disposal gains
Same definition as Form C-S revenue.
Can I get refund if overpaid on ECI?
Yes. Automatically refunded when Form C/C-S assessment issued (around December/January).
Goes to your registered bank account.
No action needed from you.
What if I haven't filed for multiple years?
File all outstanding ECIs immediately.
Each year is separate filing.
Expect:
- Estimated assessments already issued
- Must pay those first
- File objections with actual ECI
- IRAS adjusts and refunds if overpaid
Don't delay further. File now.
Making Your Decision: What's Next
You now understand ECI filing: what it is, when to file, how to calculate, and who gets waiver.
The question: Will you file yourself or get help?
The Reality of DIY ECI Filing
If you qualify for waiver (revenue ≤ $5M and ECI nil):
- Don't file ECI
- Self-assess, no application needed
- Still must file Form C/C-S by 30 November
If you must file ECI:
The filing takes 10 minutes.
The calculation takes 2-5 hours (if you know what you're doing).
Most errors happen in calculation, not filing:
- What expenses are non-deductible?
- How much capital allowance can claim?
- How to handle separate source income?
- What about losses brought forward?
Wrong calculation = wrong tax paid = reconciliation issues later.
Cost of ECI Errors
Error: Filed nil, should have filed positive amount
- IRAS discovers when you file Form C/C-S
- Questions why discrepancy
- Time explaining
Error: Calculated wrong ECI
- Overpaid: Lost cash flow for months
- Underpaid: Pay balance later with interest
Error: Missed deadline completely
- Estimated assessment (usually higher)
- Pay full lump sum immediately
- File objection, wait for refund
- Cash flow disruption
Error: Think qualified for waiver but didn't
- Estimated assessment issued
- Enforcement action
- Penalties
One error costs more than professional help.
When DIY Makes Sense
You should file yourself if:
- Very simple business (straightforward income and expenses)
- Understand tax adjustments and capital allowances
- Have time to prepare properly
- Confident in calculations
Realistic assessment: Less than 10% of companies should DIY ECI calculation.
The filing is easy. The calculation requires tax knowledge.
When to Get Professional Help
Get help if:
- First time filing ECI
- Complex income/expenses
- Don't understand tax adjustments
- Want to maximize capital allowances
- Don't have time
- Want to avoid errors
Cost of professional help vs cost of errors:
Professional ECI filing: $300-600
Cost of one major error: $2,000-$10,000 (estimated assessment, cash flow disruption, time fixing)
Our ECI Filing Service
What we handle:
- Calculate your ECI accurately
- Apply all legitimate adjustments and allowances
- File within 3 months of your FYE
- File early to maximize GIRO instalments
- Handle any IRAS queries
- Revise if needed
Standalone ECI filing: $300-600 (depends on complexity)
Included in yearly compliance package: $1,500-3,000/year
- ECI filing
- Form C/C-S filing
- ACRA annual return
- All deadline tracking
Included in monthly bookkeeping: $7,000-15,000/year
- Monthly bookkeeping
- ECI filing
- Form C/C-S filing
- Quarterly GST filing (if applicable)
- IR8A filing
- ACRA compliance
- All deadlines managed
Why Professional Help Makes Sense
Accurate calculation:
- Maximize legitimate deductions
- Don't miss capital allowances
- Apply correct tax adjustments
- Calculate losses properly
Filed on time:
- We track your FYE
- Prepare and file within deadline
- File early for maximum instalments
No stress:
- We handle all IRAS correspondence
- You don't deal with queries
- Revisions handled if needed
Peace of mind:
- Correct from the start
- No surprise issues later
- Professional liability coverage
ECI Deadline Approaching?
WhatsApp us now or call +65 8856 6155
Tell us:
- Your financial year-end
- Your ECI deadline (3 months from FYE)
- Whether you have management accounts ready
We'll:
- Calculate your ECI accurately
- File by deadline
- Maximize your GIRO instalments
- Handle everything
Common Questions We Answer
"Can you help even if my deadline is in 2 weeks?"
Yes, if you have basic records ready. Contact us immediately.
"I don't have final accounts yet, can you still prepare ECI?"
Yes. We use management accounts or bank statements. ECI is estimate.
"I think I qualify for waiver, can you confirm?"
Yes. We review your situation and confirm eligibility. Better to verify than guess wrong.
"What if I've missed the deadline?"
We file immediately and handle estimated assessment objection if issued. The sooner you engage us, the less costly.
"Do you handle IRAS queries?"
Yes. All correspondence handled as part of service.
What Happens Next
Step 1: Contact us
- WhatsApp or call
- Tell us your situation
Step 2: We quote fixed price
- Based on complexity
- No hourly billing
Step 3: You provide records
- Management accounts
- Bank statements
- Previous year returns
Step 4: We handle everything
- Calculate ECI
- File by deadline
- Send you confirmation
Step 5: You're done
- No stress
- Filed correctly
- On time
The Bottom Line
ECI filing isn't optional. It's due 3 months after FYE every year (unless waiver applies).
Your choices:
- DIY (time + risk)
- Professional help (cost but no hassle)
- Don't file (penalties + estimated assessment)
Most companies choose option 2 once they understand the actual cost of getting it wrong.
3-month deadline doesn't change.
File yourself or get help. But don't miss it.
Last updated: November 2025. ECI filing requirements current as of YA 2025. Corporate tax rate 17%. Always verify current requirements at iras.gov.sg.