{"id":14306,"date":"2017-03-29T14:26:51","date_gmt":"2017-03-29T06:26:51","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?p=14306"},"modified":"2018-08-17T17:43:38","modified_gmt":"2018-08-17T09:43:38","slug":"revenue-threshold-increased-to-5-million-for-eci-waiver-and-form-c-s","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/taxation\/revenue-threshold-increased-to-5-million-for-eci-waiver-and-form-c-s\/","title":{"rendered":"UPDATES – Revenue threshold increased to S$5 million for ECI waiver and Form C-S"},"content":{"rendered":"

UPDATES \u2013 Revenue threshold increased to S$5 million for ECI waiver and Form C-S<\/h2>\n

 <\/p>\n

ECI<\/h3>\n

The revenue threshold for ECI waiver will be increased from S$1 million to S$5 million. This updated criteria for ECI waiver will apply to companies with financial year ending in or after July 2017.<\/p>\n\n\n\n\n\n
Company’s Financial Year ends <\/strong><\/td>\nCriteria for ECI waiver <\/strong><\/td>\n<\/tr>\n
In or before June 2017 <\/td>\n 2.    annual revenue is not more than S$1 million for the financial year; and<\/strong><\/p>\n

 3.    ECI is NIL for the YA.<\/td>\n<\/tr>\n

In or after July 2017<\/td>\n 2.    annual revenue is not more than S$5 million for the financial year; and<\/strong><\/p>\n

 3.    ECI is NIL for the YA.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

FORM C-S<\/h3>\n

Effective YA 2017<\/strong>, IRAS will increase the annual revenue threshold for filing Form C-S from the current S$1 million to S$5 million.<\/p>\n

From YA 2017, companies will qualify to file Form C-S if they meet all of the following conditions:<\/p>\n

    \n
  1. The company must be incorporated in Singapore;<\/li>\n
  2. The company must have an annual revenue of S$5 million or below<\/li>\n
  3. The company only derives income taxable at the prevailing corporate tax rate of 17%; and<\/li>\n
  4. The company is not claiming <\/strong>any of the following in the YA:
    \na. Carry-back of Current Year Capital Allowances\/ Losses
    \nb. Group Relief
    \nc. Investment Allowance
    \nd. Foreign Tax Credit and Tax Deducted at Source<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

    UPDATES \u2013 Revenue threshold increased to S$5 million for ECI waiver and Form C-S   ECI The revenue threshold for ECI waiver will be increased from S$1 million to S$5 million. This updated criteria for ECI waiver will apply to companies with financial year ending in or after July 2017. Company’s Financial Year ends  Criteria…<\/p>\n","protected":false},"author":57,"featured_media":14310,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67],"tags":[],"class_list":["post-14306","post","type-post","status-publish","format-standard","has-post-thumbnail","category-taxation","category-67","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/14306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/57"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=14306"}],"version-history":[{"count":0,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/posts\/14306\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/14310"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=14306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=14306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/tags?post=14306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}