You’ve prepared your financial statements. You’ve held your AGM. Now, you are ready to file your Annual Return with ACRA.

But when you log in to the BizFile+ portal, you are asked to upload a file in XBRL format. You try to upload your PDF, but the system rejects it.

This is a common panic moment for new business owners in Singapore.

In this guide, we strip away the technical jargon to explain what XBRL is, whether your small company is required to file it in 2025, and how to avoid the “Incomplete Filing” penalty.

What is XBRL? (In Simple English)

XBRL stands for eXtensible Business Reporting Language.

Think of it this way: A PDF is a “picture” of your accounts that humans can read. XBRL is a “code” that computers can read.

ACRA requires this so their system can automatically analyze the financial health of Singapore companies. You cannot simply “save as XBRL” from Excel or Word. You must use specialized software to “tag” every single number in your financial statements (e.g., Revenue, Assets, Liabilities) with the correct ACRA data code.

The Big Question: “Am I Exempt?”

Many directors assume that because they are a “Small Company” (exempt from Audit), they are also exempt from XBRL. This is FALSE.

Most small private companies MUST still file in XBRL. However, the type of filing depends on your size.

1. The “Solvent EPC” Exemption (The Only True Escape)

You are fully exempt from filing XBRL (and can just file a PDF or no financials at all) ONLY if:

  1. You are an Exempt Private Company (EPC) (No corporate shareholders, <20 individual shareholders); AND

  2. Your company is Solvent (Able to pay its debts).

Note: If you are an EPC but you are Insolvent (Loss-making/Net Liabilities), you MUST file in XBRL.

2. Simplified XBRL (For Smaller Companies)

If you do not meet the exemption above (e.g., you have a corporate shareholder), you may qualify for Simplified XBRL. This is a shorter, easier template.

To qualify as a “Smaller Company” in 2025, you must meet two criteria:

  • Revenue is less than S$500,000; AND

  • Total Assets are less than S$500,000.

3. Full XBRL (For Everyone Else)

If your Revenue or Assets exceed S$500,000, you must file Full XBRL. This is a comprehensive report that tags nearly every line item in your financial statements, including the Directors’ Statement and Notes to Accounts.

Why You Can’t “DIY” This Easily

Unlike filing a tax form where you just type numbers into a box, XBRL filing requires:

  1. Mapping: Matching your specific accounting ledgers to ACRA’s taxonomy.

  2. Validation: Running the file through ACRA’s validation tool to check for 100+ possible logic errors (e.g., “Assets do not equal Liabilities + Equity”).

  3. Software: Purchasing vendor software or hiring a professional service.

The Risks of Getting It Wrong

ACRA takes financial reporting seriously.

  • Rejection: If your XBRL file has validation errors, your Annual Return cannot be submitted.

  • Late Penalties: If you delay filing because you are stuck on the XBRL conversion, you will hit the Annual Return deadline. Late penalties start at S$300.

  • Prosecution: Directors are legally responsible for the accuracy of the data. Incorrect mapping can be seen as misleading the regulator.

Conclusion: Let Us Handle the Code

If you are a business owner, your job is to generate revenue, not to learn data coding.

At Excellence Singapore, our Annual Return & XBRL Filing Services take the headache away. We convert your management accounts into compliant XBRL format, run the validation checks, and submit your Annual Return on time.

Don’t let a file format stop your business. Contact us today for a quote on XBRL Conversion.