XBRL filing — full vs simplified — Eligibility and requirements checklist

XBRL filing in Singapore is the requirement for most companies to lodge their financial statements with ACRA in eXtensible Business Reporting Language, in either the Full or the Simplified XBRL template depending on the company’s size and status — with smaller, non-publicly-accountable companies generally eligible for the lighter Simplified template.

Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.

What XBRL filing is

XBRL is a structured, machine-readable format for financial statements. In Singapore, companies that are required to file financial statements with the Accounting and Corporate Regulatory Authority (ACRA) generally do so in XBRL, so that the data can be extracted and analysed consistently across the register.

There are two main templates. Full XBRL captures a comprehensive set of line items, while Simplified XBRL captures a reduced set together with the financial statements in PDF. Which one applies depends on the company’s characteristics, not preference.

Who must file, and in which template

Broadly, Singapore-incorporated companies that are required to file financial statements file in XBRL, with limited exemptions. Smaller companies that are not publicly accountable — those below the size thresholds and not, for example, listed or licensed financial entities — are generally eligible for Simplified XBRL, while larger or publicly accountable companies file Full XBRL.

Solvent exempt private companies are not obliged to file financial statements at all in the ordinary course, though they must still prepare them. Insolvent exempt private companies and most other companies fall within the filing regime.

Because the filing regime interacts with your tax position, it is worth reading it alongside broader tax and accounting guidance: IP Development Incentive (IDI) in Singapore (2026): Concessionary Tax on IP Income.

Eligibility and requirements checklist

Before you file, confirm:

  • Whether the company is required to file financial statements at all.
  • Whether it is publicly accountable (which forces Full XBRL).
  • Whether it meets the small-company size thresholds for Simplified XBRL.
  • That the financial statements have been prepared under the applicable financial reporting standards and approved.
  • That the data is tagged accurately against the correct ACRA taxonomy.

The obligation to keep proper accounting records and prepare financial statements is anchored in Section 201 of the Companies Act 1967, which sets out directors’ duties in relation to the company’s financial statements.

Cost, timeline and deadlines

XBRL preparation is usually done through ACRA’s preparation tool or outsourced to a corporate service provider. Outsourced preparation fees for a straightforward set of accounts commonly range from around S$300 to S$800 depending on complexity and template, with more for groups and consolidations.

The filing deadline is tied to the annual return: private companies generally hold their annual general meeting and file the annual return (with the XBRL financial statements, where required) within the statutory windows after financial year end. Section 175 of the Companies Act 1967 governs the timing of general meetings, and Section 197 governs the annual return.

Build the XBRL step into the accounts-closing timetable; leaving tagging to the last minute is the most common cause of late annual-return filing and penalties.

Step-by-step process

  1. Finalise and approve the financial statements under the applicable standards.
  2. Determine the correct template (Full or Simplified XBRL).
  3. Map and tag the figures against the current ACRA taxonomy.
  4. Validate the file in ACRA’s preparation tool.
  5. File as part of the annual return via BizFile.

Deciding Full versus Simplified XBRL in practice

The template is not a matter of preference. A company that is publicly accountable — for example listed, or a licensed financial entity, or one that holds assets in a fiduciary capacity for a broad group — files Full XBRL. A smaller company that is not publicly accountable and falls within the size thresholds generally files Simplified XBRL, which pairs a reduced data set with the financial statements in PDF.

Get the classification right before you start tagging, because redoing a filing in the correct template late in the annual-return cycle is a common cause of missed deadlines. If your status is borderline, resolve it with your corporate secretary or advisor first.

Fitting XBRL into the annual-return timetable

XBRL tagging is the last technical step before filing, but it depends on everything upstream being finished: the financial statements must be finalised, approved and, where required, audited. Work backwards from the annual-return deadline — allow time for the accounts to close, for any audit, for the AGM (or written resolution), and only then for tagging and validation.

Teams that treat tagging as an afterthought routinely file late. Build it into the close calendar as a defined task with an owner, and validate the file in ACRA’s tool well before the deadline so that any tagging errors can be corrected in time.

Common mistakes and gotchas

The frequent errors are choosing the wrong template, mis-tagging line items so that the XBRL does not reconcile to the approved accounts, and filing late because the tagging was left until the annual-return deadline. Any mismatch between the tagged data and the signed financial statements is a red flag on the public register.

For groups, remember that consolidation adds tagging complexity; plan extra time and check that intra-group eliminations are reflected correctly.

Official sources: iras.gov.sg.

Related guides

FAQs

What is the difference between Full and Simplified XBRL?
Full XBRL captures a comprehensive set of financial data; Simplified XBRL captures a reduced set plus the financial statements in PDF and is generally available to smaller, non-publicly-accountable companies.

Do all companies file XBRL?
Most companies required to file financial statements file in XBRL, with limited exemptions. Solvent exempt private companies generally need not file financial statements, though they must still prepare them.

When is the XBRL filing due?
It is filed with the annual return, within the statutory windows after financial year end governed by Sections 175 and 197 of the Companies Act 1967.

How much does XBRL preparation cost?
Outsourced preparation for a straightforward set of accounts commonly runs from about S$300 to S$800, with more for groups and consolidations.

Can a company choose Full XBRL voluntarily?
A company eligible for Simplified XBRL can generally file the fuller template if it wishes, but a company required to file Full XBRL cannot downgrade to Simplified.

What if the tagged figures do not match the signed accounts?
They must match. Any discrepancy between the XBRL data and the approved financial statements is a filing error that should be corrected before submission.

Need help with this? Call, SMS or WhatsApp +65 8501 7133, or email [email protected]. Raffles Corporate Services works with a panel of corporate and employment law firms; this article is general information, not legal advice.