Corporate Taxation
A corporation is generally liable for Singapore income tax on all income accruing in, or derived from Singapore, as well as foreign sourced income remitted or deemed remitted into the country.
Tax Deductible Expenditure
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Tax Deductible Expenditure
Singapore income tax is imposed on the net income of a corporation after deducting expenditure and capital allowances.
Singapore income tax is imposed on the net income of a corporation after deducting expenditure and capital allowances. Expenses are deductible as long as they are incurred wholly and exclusively in the production of income and are “revenue” in nature.
In general, recurring expenditure such as rental expenses, utilities, bookkeeping fees, audit fees, stationery, printing, repair and maintenance and other operational expenses will be regarded as “revenue” in nature.
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Tax
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