Estimated profit declaration in Singapore (ECI)

Pursuant to Singapore legislation, all local companies (with some exceptions) are obliged to submit a previous-year estimated profit declaration to tax authorities within 3 months after the end of each financial year. The definition of this Singapore declaration is “Estimated Chargeable Income” (ECI).

Based on the ECI received, Singapore tax authorities calculate a provisional tax, which should be settled by a tax payer within a month upon the receipt of the respective payment notification.