What is ECI

 

WHAT IS ECI ?

ECI refer to Estimate Company’s Chargeable Income ( click here for type of taxable income ) for a Year Assessment ( YA)

IRAS : Year of Assessment’ (YA) refers to the year in which income tax is calculated and charged. The assessment is for the income earned in the preceding year

Example: For YA 2019, the assessment is for income earned from 1 Jan 2018 to 31 Dec 2018

Revenue refer to Company’s main income based on their major principal activities

ALL company is required to file ECI with the following implementation phase :

 

CONDITION FOR WAIVER SUBMISSION OF ECI 

 

ADVANTAGES OF ECI

Company which file ECI will eligible to the following instalment :

WHAT IF FAIL TO FILE ECI ?

IRAS will process and send out Notice of Assessment (NOA ) based on ECI submission .

You are required to pay tax stated on the NOA OR lodge in objection within 1 month from he date of NOA

ECI form YA 2019

 

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