XBRL – eXtensible Business Reporting Language

Singapore incorporated companies are required to file financial statements with the Accounting and Corporate Regulatory Authority (ACRA). There are some exemptions. Additionally, some companies will also be required to file eXtensible Business Reporting Language (XBRL) format financial statements with ACRA.  

There are four types of XBRL templates which can be used: 

  • Full XBRL 
  • Simplified XBRL 
  • XBRL Financial Statements Highlights (Banks) 
  • XBRL Financial Statements Highlights (Insurance) 

The majority of non-publicly accountable companies will file XBRL financial statements using the full or the simplified template.  

The filing of full XBRL financial statements is mandatory in the following circumstances: 

  • Singapore incorporated exempt private companies (EPCS) that are insolvent and do not meet the “small company” criteria 
  • Singapore incorporated non-exempt private companies (EPCs)  

An exempt private company (EPC) will be characterised as follows: 

  • Usually ends with “Pte Ltd” 
  • Has a maximum of 20 shareholders 
  • Does not have any corporate shareholders 
  • Has a share capital 

A company fulfils the definition of a “small company” if the revenue and total assets for the financial year end do not exceed SGD 500,000 respectively. 

For more details on eXtensible Business Reporting Language financial statements filling requirements, please contact us.  

Contact Us

At Sheltons Accountants Singapore we have extensive experience in providing Singaporean and international tax advice. This includes advice on tax treaty issues and cross-border tax efficient structuring.

If you need advice or assistance with your Singaporean tax obligations, or if you would like us to prepare your Singaporean tax returns, we’re here to help.

Simply send us an email at SG@SheltonsGroup.com.

Sheltons Singapore

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