"Simplified XBRL" is an official ACRA term in Singapore — unlike in some neighbouring jurisdictions, it's not informal shorthand. But the eligibility test surprises a lot of first-time filers.
The test that actually decides
A company qualifies for Simplified XBRL if, for the current financial year, both of these are true: revenue does not exceed S$500,000, and total assets do not exceed S$500,000. Both conditions must hold — meeting only one doesn't qualify you.
The practical comparison
| Simplified XBRL | Full XBRL | |
|---|---|---|
| What's filed | Financial statement highlights only (roughly 120 data elements) | The complete financial statement, fully tagged |
| Eligibility | Revenue AND assets both ≤ S$500,000 | Everyone else, by default |
| Extra document needed? | Yes — a full PDF copy of financial statements must accompany it | No separate PDF requirement beyond the standard signed copy |
| Preparation effort | Meaningfully lower | Higher |
Company size classification for XBRL purposes is assessed annually. If your company grows past the S$500,000 thresholds in the current financial year, you may need to switch from Simplified to Full XBRL for your next filing — missing that transition is a common compliance error.
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Why this is not the audit exemption test
It's easy to conflate this with Singapore's small company audit exemption, but they're genuinely different tests. The audit exemption threshold under the Companies Act uses much higher figures (commonly cited around S$10 million in revenue, S$10 million in assets, and 50 employees, assessed across two of three criteria). The Simplified XBRL threshold is a separate, much lower S$500,000 test that applies specifically to which XBRL template you use — not whether you need an audit at all. A company can be audit-exempt and still need to file Full XBRL, or vice versa in principle.
How to think about which applies to you
- Start from the assumption that Full XBRL is your route, since it's the default.
- Check your revenue and total assets for the current financial year against the S$500,000 test — both must be met.
- Don't confuse this with your audit exemption status, which is a separate, higher threshold.
- Re-check eligibility every year, since crossing the threshold changes your required template.