With effect from 3 March 2014, Singapore incorporated companies which are unlimited or limited by shares must, unless exempted, file a full set of financial statements in XBRL based on revised filing requirements through the new BizFinx portal at www.bizfinx.gov.sg. The revised XBRL filing requirements will not apply to Singapore incorporated companies limited by guarantee, foreign companies and their local branches.
To assist companies in transiting to the revised XBRL filing requirements, companies other than public listed companies, will be given more time to hold their Annual General Meeting (“AGM”) or to file their Annual Return (“AR”) form. The Accounting & Corporate Regulatory Authority (the “ACRA”) has also issued “Practice Direction No. 1 of 2014: Revision in Filing Requirements of Financial Statements in XBRL with ACRA” which provides more information on the revised XBRL filing requirements and BizFinx filing system.
The following materials are available from the ACRA website www.acra.gov.sg: