Tax Deductible Expenditure

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.