You can claim deduction for expenses that are incurred in the production of income. It must also be revenue in nature; the deduction must not be
Frequently Asked Questions : Taxation & Accounting
What are the requirements to register for Goods & Services Tax (GST)?
Goods & Services Tax (GST) is a self-assessed tax. This means that businesses are required to continually assess the need to register for GST.
What is an Exempt Supply?
There are two broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in
What is an Out-of-Scope Supply?
An Out-of-Scope Supply is a supply which is not made in Singapore (for example, sale of goods from China to India where the goods do not enter
What are the capital gain tax rates in Singapore?
There is no tax in Singapore on Capital Gain.
What are the conditions for voluntary Goods & Services Tax (GST) registration?
Voluntary Goods & Services Tax (GST) registration is allowed if: Your annual turnover is not more than $1 million; You only supply goods
What are the personal taxes that I will have to pay based on my declared salary?
As a Singapore Permanent Resident (SPR), you will be considered a tax resident. You may refer to the Rikvin resource page for Singapore Personal Taxes
What are the common mistakes made by corporate taxpayers?
Understatement of income Businesses should properly account for all the earnings and invoices issued for goods sold or services rendered. Omission
Is a Singapore Branch Office eligible for tax incentives?
A Singapore Branch Office is considered a non-resident company for tax purposes. Hence, it is not eligible for tax incentives. This is why most
Is there any limit or quota on the number of Employment Pass (EP) applications a Company can make?
The Employment Pass (EP) does not fall under any quota system nor is there a monthly levy charge for EP. The Ministry of Manpower (MOM) will review
If I should pass on, can I make a Nomination for someone to be a beneficiary of my Central Provident Fund (CPF) savings?
Your Central Provident Fund (CPF) nomination allows you to specify who to receive your CPF savings, and how much each nominee should receive, when you
Is there a maximum cap on Central Provident Fund (CPF)?
Maximum amount of Central Provident Fund (CPF) payable is based on a monthly salary ceiling of $5,000 for OW. Maximum amount of AW on which CPF is