Estimated Chargeable Income For YA 2017

For the 2017 Year of Assessment, companies in Singapore are required to report their estimated chargeable income and gross revenues within three months of their financial year-end.

Under Singapore's Income Tax Act (the Act), companies carrying on a trade, business, profession or vocation are required to provide their estimated chargeable income (ECI) and gross revenues to the Comptroller of Income Tax (the Comptroller) within three months of the end of their financial year.

The ECI is an estimate of the company's taxable income after deducting tax-allowable expenses (including enhanced deductions, capital allowances, or the cash pay-out option under the Productivity and Innovation Credit (PIC) Scheme), and before deducting the exempt amount under the partial tax exemption scheme or the tax exemption scheme for new start-up companies.