What You Need To Know

What is XBRL?

eXensible Business Reporting Language, is a language for the electronic communication of business and financial data worldwide for Singapore accounting.

What is ECI?

ECI stand for Estimated Chargeable Income. It is your estimated taxable revenue for the past year.

What is GST?

Goods and Services Tax. In other countries is it also known as VAT or Value Added Tax.

What is AGM?

A meeting of all the shareholder and directors. This is a requirement for all Singapore companies, unless it has passed a resolution dispensing with them.

What is IRAS?

IRAS is a statutory board of the Singapore Government under the Ministry of Finance of the Singapore Government in charge of tax collection.

What is Form C?

This is your income Declaration that all companies need to submit. Small name businesses will not use this and instead use form C-S

Incorporation Terminology:

What is ACRA?

The accounting and corporate regulatory authority (ARCA) is the public accountants and corporate service providers in Singapore

What is a director of a company?

A sloe director is responsible for managing the affairs of a company. Singapore requires a minimum of one ‘locally resident’ sole director

What is Nominee Director?

If you do not have a local resident director, you can appoint us as a Nominee Director role for your company.

What is a CorpPass?

CorpPass is an authentication service for corporate users to transact with government agencies online on behalf of their organisations.

What is the UEN for a company?

Unique Entity Number (UEN) is a 9 or 10 digit identification number that is issued by the government in Singapore to all entities that operated with the country.