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Useful Guidelines

XBRL filing requirements

  • What is XBRL? XBRL or eXtensible Business Reporting Language is an electronic language designed to enable the automation of business information requirements. Who needs to file and who is exempted
    All Singapore incorporated companies are required to file financial statements with ACRA, except for those which are exempted. Some companies will file a full set of financial statements in XBRL format, while some others will file only salient financial data in XBRL format and a full set of financial statements in PDF. The filing requirements depend on the type of company you own.
    If you own a sole proprietorship, partnership, or limited partnership, you are not required to file financial statements with ACRA.
    The following types of companies are exempted from filing their full set of financial statements in XBRL format, and will file their financial statements in PDF with Financial Statements Highlights (FSH) in XBRL format instead:
    Companies which are (1) Commercial Banks; (2) Merchant Banks; (3) Registered Insurers; and (4) Finance Companies, that are regulated by the Monetary Authority of Singapore; and Companies allowed by law to prepare accounts in accordance with accounting standards other than SFRS, SFRS for Small Entities and IFRS (International Financial Reporting Standards). Insolvent EPCs will have the following options to file their financial statements with ACRA:
    • A full set of financial statements in XBRL format; or
    • A full set of financial statements in PDF with Financial Statements Highlights in XBRL format.
    Companies limited by guarantee will continue to file only their financial statements in PDF format to ACRA.
    Foreign companies and their local branches will also continue to file only their financial statements in PDF format to ACRA. Solvent EPCs are exempted from filing FSH, Full XBRL, or PDF copy of their financial statements, but they are encouraged to so. Does Your Company Need to File XBRL Reports?
    How can I file?
    You can either:
    • do-it-yourself - ACRA has provided a free online tool known as "BizFinx Preparation Tool" to enable companies to prepare and manage their FS in XBRL; or