Filing Estimated Chargeable Income (ECI) and Paying Estimated Taxes

e-File early to pay taxes in instalments. The earlier you e-File, the greater the number of instalments.

e-File your ECI 

From YA 2020, it is compulsory for the filing of ECI to be done electronically via myTax Portal.

Step 1: Before e-Filing, please ensure:

  1. You have been authorised by the company as an "Approver" for Corporate Tax (Filing and Applications) in Corppass; and
  2. You have your Singpass as well as the company's Unique Entity Number (UEN)/ Entity ID.

For assistance on Corppass setup, please refer to Step-by-Step Guides.

Step 2: e-File via mytax.iras.gov.sg

 For assistance on e-Filing, please refer to the relevant guides:

    Pay Your Taxes in Instalments through GIRO

    Only Singapore-registered companies that are on GIRO are allowed to pay their taxes in instalments. Companies that do not have an existing GIRO arrangement for Corporate Tax are encouraged to apply for GIRO at least 3 weeks before e-Filing their ECI.

    If the GIRO arrangement is not approved before the payment due date, the company will not be eligible for instalment payment and will need to pay the full amount of estimated tax by the payment due date. You can check the status of your company's GIRO application through the Corporate Tax Integrated Phone Service (PDF, 371KB).

    Tax Payable on First ECI e-Filed Within Number of Instalments Given  
    1 month from financial year end10
    2 months from financial year end8
    3 months from financial year end6
    After 3 months from financial year endNo instalments allowed

    Notes
    1. The instalment plan is subject to a minimum monthly GIRO deduction amount of $50.
    2. The first few instalments may be combined and deducted on the first GIRO deduction date, depending on the date of filing of ECI. Please see example 2 below.
    3. IRAS may vary the instalment plan for companies that file revised ECIs.

    e-File by 26th of each qualifying month to enjoy the maximum number of instalments allowable for that month.

    Company A's financial year ends in Dec.

    e-File byNumber of Instalments Given*
    26 Jan 10
    26 Feb 8
    26 Mar 6
    After 26 Mar No instalments

    * The first few instalments could be combined and deducted on the first GIRO deduction date, depending on the date of filing of ECI. Please see example 2 below.

    Following Example 1 above, Company A e-Files its ECI in Jan and ten instalments are granted for the tax payable of $10,000.

    e-Filing Date

    Between 1 and 20 Jan

    Between 21 and 26 Jan

    1st GIRO Deduction On 6 Feb 6 Mar 

    Deduction Amount

    $1,000

    $2,000

    Subsequent Deduction

    Thereafter, $1,000 will be deducted on the 6th of each month from Mar to Nov.

    There is no GIRO deduction on 6 Feb. The instalment amount for Feb and Mar will be deducted together on 6 Mar. 

    Thereafter, $1,000 will be deducted on the 6th of each month from Apr to Nov.

    Calculation of ECI

    Companies need not factor in the Tax Exemption Scheme for New Start-Up Companies/ Partial Tax Exemption when filing their ECI. IRAS will compute these and allow the New Start-Up Companies/ Partial Tax Exemption automatically.

    Property developers should report their ECI based on the Completed Contracts Method.

    Example: Calculation of ECI for YA 2021
    Your company’s Profit and Loss statement for financial year 2020 (Year of Assessment 2021) is as follows:

     Sales $80,000
     Less: Cost of goods sold $(35,000)
     Gross Profit $45,000
     Other Income: 
     Rental Income $1,200
     Less: Expenses 
     Advertisement $(790)
     CPF $(2,300)
     Depreciation $(300)
     Directors’ fees $(9,000)
     Printing and Stationery $(290)
     Property Tax (rental property) $(300)
     Salaries $(24,000)
     Secretarial Fees $(310)
    Transport ($200 was incurred on car SJX 123) $(780)
     Travelling Expenses $(560)
     Water & Electricity $(925)
     Net Profit before Tax $6,645

    The company also purchased a new private car (SJX 123), a computer for $1,200 and a filing cabinet for $300 in YA 2021. There were no unutilised capital allowances brought forward from the previous YA.

     The calculation of the company’s ECI is as follows:

    Net profit before Tax $6,645 
     Less: Separate Source Income 
     Rental Income $(1,200)
     Add: Disallowable Expenses 
     Depreciation $300
     Property Tax (Rental Property) $300
     Transport (S-plated car) $200
     Adjusted profit before Capital Allowances $6,245
     Less: Capital Allowances for YA 2021 1 
      100% Write-Off for Low-Value Asset - Filing Cabinet $(300)
     100% Write-Off in One Year for Computer $(1,200)
     Adjusted profit after Capital Allowances $4,745
     Add: Separate Source Income 
     Rental income (net of Property Tax for rental income) $900
     Estimated Chargeable Income (before exempt amount)

     $5,645

    When e-Filing the ECI, the company can report its revenue as “$80,000” and ECI figure as “$5,645” under the 17% tax rate category. If the company also qualifies for the Tax Exemption Scheme for New Start-Up Companies, the company has to indicate accordingly in the relevant box of the ECI return. For more information, please refer to the File Estimated Chargeable Income (ECI) (PDF, 947KB) user guide.

    Please click here (PDF, 166KB) for more examples on how to calculate the ECI.


     1 No capital allowance is to be given on private cars (S-plated cars), RU-plated cars and company cars (Q-plated or S-plated cars). 

    Getting Your Tax Notice and Paying Estimated Tax

    After IRAS has processed your company's ECI, you will receive a Notice of Assessment (NOA), which is an official Notice that states the amount of tax to be paid. You can also view the NOA at mytax.iras.gov.sg. However, no NOA will be issued if your company filed a "Nil" ECI amount.

    The tax must be paid within one month from the date of the NOA, unless you are paying via instalment (GIRO).  

    The NOA will include information on the various ways to pay.

    Ways to Pay

    There are two ways to pay your taxes:

    1. Payment by GIRO
      Companies that wish to pay taxes by instalment must sign up for GIRO. For more information, please refer to Apply for GIRO arrangement
    2. Payment by other Electronic Modes
      You can also make payment via internet Banking, Phone Banking, NETS, etc.

    For details on other payment modes, please refer to Electronic Payment Modes.

    If your company requires assistance in paying the taxes, please refer to Experiencing Difficulties in Paying Your Tax for more information.

    GIRO Instalment Plans for Singapore-registered Companies

    You may qualify for GIRO instalment plan as long as you are a Singapore-registered company.

    FAQs