Filing Due Dates
Companies have to file
their ECI within three months from
the end of their financial year.
Companies that meet the criteria for waiver of requirement to file ECI are not required to file the ECI.
New! As part of our support for taxpayers in light of the latest measures to manage the COVID-19 situation, companies with Financial Year ending in Jan 2020 will be granted an automatic extension till 31 May 2020 to file their YA 2021 ECI. These companies who are on GIRO will still qualify for the additional two months of interest-free instalment if they meet the condition.
Estimated Notice of Assessment (NOA)
IRAS may issue an estimated NOA if a company fails to
file its ECI as required. The estimated tax may be based on the company’s past
years’ income or information available to IRAS.
Making Payment
Companies have one month from the date of the NOA
to pay the tax.
A company is required to pay the tax as shown in the NOA
even if it has filed an objection and is awaiting the outcome. If the
assessment is subsequently revised, any excess payment would be refunded to the
company.
If payment is not received by the due date, late payment
penalties will be imposed and enforcement actions may be taken to recover
overdue taxes.
Please refer to Corporate Tax Payments for the various payment
modes available.
Objecting to IRAS’ Estimated Assessment
If a company disagrees with the estimated tax assessment, it must file an objection to the assessment within two
months from the date of the NOA.
In filing the objection, the company must provide the reasons for the late filing of ECI and the revised ECI amount.