Revised Singapore XBRL filing requirements 2021Posted by InCorp Global on January 28th, 2021 All Singapore incorporated companies are required to file financial statements (FS) except for those which are exempted, with ACRA. In May 2020, ACRA announced that companies are required to file XBRL financial statements (FS) in accordance with the revised XBRL filing requirements with effect from 1st January 2021. However, on 19th December 2020, ACRA issued a one-off extension on the effective date to give companies more time to adopt the XBRL filing requirements revisions in view of the economic situations amid the COVID-19 pandemic. The revised XBRL filing requirements will now take effect from 1st May 2021. *If you own a sole proprietorship, partnership, limited liability partnership, or limited partnership, you do not need to file FS with ACRA. What are the new XBRL updates?To streamline the FS filing process, ACRA has revised the filing requirements and data elements in XBRL format. Refer below:
In this infographic, we provide you with all the details on the revisions in XBRL filing requirements and data elements. This has been originally uploaded at InCorp Global. Like it? Share it!More by this author |