What You Need to Know about the ECI?

What You Need to Know about the ECI? 关于ECI你需要知道什么?

ECI (Estimated Chargeable Income) is the company’s annual turnover minus expenses for the Year of Assessment (YA). 预估应税收入表(ECI)是指该公司的年营业额减去该课税年度的开支。

1. With whom and when must I file the ECI? 我必须向谁及何时提交ECI?

First and foremost, you must file the ECI with IRAS, Singapore’s tax authority, within 3 months of the end of your company’s financial year (FYE). 首先,你必须在公司财政年度(FYE)结束后的3个月内,向新加坡税务局(IRAS)提交ECI。

For example, if your FYE is 31 December 2019, you must file your ECI by 31 March 2020. 例如,如果你的财务年尾是2019年12月31日,你必须在2020年3月31日前提交ECI。

2. Why you should file your ECI 为什么要提交你的ECI

Filing the ECI in a timely manner is one of the annual corporate compliance requirements in Singapore. 及时提交ECI是新加坡年度企业合规要求之一。

Your ECI submission plays an important role in the larger scheme of things as it helps policymakers have a sense of how businesses and various industries are doing. In turn, this information helps them adjust policies, which in turn, could benefit your firm and industry. 您提交的ECI在更大的计划中扮演着重要的角色,因为它帮助决策者了解企业和各种行业的情况。反过来,这些信息可以帮助他们调整政策,从而使你的公司和行业受益。

3. Early bird gets the worm 早起的鸟儿有虫吃

In addition, IRAS awards companies that submit their ECI statements early with the option to pay their Singapore corporate taxes in instalments. The earlier the ECI statement is submitted, the higher the number of payment instalments bestowed to your firm. 此外,IRAS还向提前提交ECI报表的公司提供分期缴纳新加坡公司税的选择。ECI报表提交得越早,贵公司获得的分期付款数目就越高。

For example, companies that e-file their ECI by the 26th of the 3rd month after the FYE may pay their taxes in 6 instalments. Those who file on the 26th of the 2nd month after the financial year-end get 8 payment instalments while those who submit a month after the FYE will get 10 instalments. 例如,在财务年尾之后的第3个月的第26日电子提交ECI的公司可以分6次缴纳税款;在财务年度结束后的第二个月26日提交的,可获得8笔分期付款;在财务年度结束后一个月提交的,可获得10笔分期付款。

4. Not everyone has to file it 并不是每个人都需要提交ECI

ECI Filing is exempted if Revenue is <$5 million and if your ECI is NIL 如果收入低于500万新元,且ECI为零,则无须提交ECI

This means if your company anticipates zero chargeable income, you still must file a “NIL” ECI return. 这意味着,如果你的公司预期零应课税收入,你仍须提交“零”ECI报税表。

5. What if you don’t file the ECI? 如果你不提交ECI怎么办?

If your company didn’t file its ECI within the 3-month period, IRAS will issue you a Notice of Assessment (NOA) based on its estimation of your income. 如果你的公司在3个月内没有提交ECI,税务局会根据你的收入估计,向你发出评税通知书(NOA)。

Your company will then have one month from the date of the Assessment to submit a written objection if you do not agree with IRAS’ estimated assessment. Otherwise, the NOA is recognized as final. Regardless of the objection status, the tax demanded per the NOA must first be paid by your company to IRAS. 如果你不同意IRAS的估计评估,你的公司将有一个月的时间提交书面反对。否则,NOA被认为是最终的。不论反对与否,贵公司必须首先向IRAS支付NOA所要求的税款。

6. Difference in amount declared as ECI and Chargeable Income reported in Form C-S/ C 在表格C- S / C填报的“预估征税收入”与“应课税收入”的差额

If the chargeable income reported in Form C-S/ C is less than the chargeable income estimated in ECI, the excess tax paid earlier will be refunded automatically. 如C-S/C表格所填报的应课税收入少于ECI所估计的应课税收入,则先前缴付的超额税款会自动退还。

If the chargeable income reported in Form C-S/ C is more than the chargeable income estimated in ECI, the additional tax must be paid within one month from the date of the Notice of Assessment. Please note that if there is a significant difference between the ECI reported earlier and the chargeable income reported in the Form C-S/ C subsequently, IRAS may require the company to provide an explanation. 如表格C- S / C所填报的应课税收入,较经济能力评税单所估计的应课税收入为高,则须在收到评税通知书后一个月内补缴税款。请注意,如较早前填报的“预估征税收入表”与其后填报的“应课税收入”表格C- S / C有显著差异,税务局或会要求有关公司作出解释。

7. Who files the ECI 谁提交ECI

Your company has to file the ECI within 3 months after the end of its financial year-end. However, if you do not know how to go about filing the ECI, you should engage a financial service firm like us specializing in accounts and Singapore taxation. 贵公司必须在财务年终结束后3个月内提交ECI。然而,如果你不知道如何申请ECI,你应该聘请像我们这样的财务服务公司,专门从事会计和新加坡税务。

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