Since 2007, Singapore incorporated companies are required to file a full set of their financial statements in XBRL format with ACRA.  XBRL (eXtensible Business Reporting Language) – also known as “interactive data” – is a standard used to define and exchange business and financial performance information.  It allows the creation, publication and exchange of entire financial statements.

Solvent exempt private companies (EPCs) are exempted from this filing requirement. However, insolvent EPCs are required to file a full set of their financial statements in XBRL format with ACRA.

Filing XBRL financial statements with ACRA

YOU MIGHT ALSO LIKE

  • Do I need to register for GST? What is GST In Singapore, GST is a tax imposed: (a) on the importation of goods only (collected by Singapore Customs at the point of importation into Singapore) and (b) the […]
  • Acra Services on iPhone App Acra has recently introduced its mobile application on iPhone called ‘Acra on the Go’. It is free and available now on Apple’s iPhone App Store. Services that is available are only […]
  • Second tranche of Wage Credit Scheme Payouts Employers are reminded to make the full CPF contributions for their employees by 14 January 2015, in order to receive the second tranche of Wage Credit Scheme (WCS) payouts in March […]

Leave a Reply

Your email address will not be published.

fourteen − nine =