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1. SINGAPORE CLAIM AS BUSINESS EXPENSE BAR EXAM UPDATE
2. SINGAPORE CLAIM AS BUSINESS EXPENSE BAR EXAM REGISTRATION
3. SINGAPORE CLAIM AS BUSINESS EXPENSE BAR EXAM PLUS

(Please see Guidance Note Update dated 5 October 2021.)

Students who wish to undertake remote or online learning arrangements offered by the Overseas Scheduled Universities after 31 December 2021 must seek an exemption from the Ministry of Law before taking up such arrangements. Besides, it won’t cost you anything to consult our tax filing professionals.Part A Undertaking Remote or Online Learning Arrangements for Overseas Law Degree Programmes (Updated 5 October 2021) Certificate of Entitlement (COE) for motor vehicles.įor expert assistance on calculating and declaring deductible and non-deductible business expenses in Singapore, you can start by talking to us.Interest incurred on late CPF contributions.Dividend payments made on preference shares.Exchange loss (non-trade or capital in nature).Bills before the commencement of business.Singapore income tax and any tax on income in a country outside Singapore.Interest expenses on non-income-producing assets.Legal and professional fees for non-trade or capital transactions.Motor vehicle expenses for S-plated and RU-plated cars.Private and domestic expenses that are not incurred for business purposes.Retrenchment payments such as ex-gratia retrenchment payments and outplacement support costs - in the event of a complete business cessation.Withholding tax on the interest payments paid by companies on-behalf of non-residents.Non-deductible expenses, on the other hand, include the funds that you spend on: Ad-hoc contributions to employees' Medisave accounts.Cash spend in topping-up of Employees' CPF Minimum Sums.Voluntary cash contributions to self-employed persons' Medisave Account.Digital taxes imposed through turnover taxes (not income taxes).Employee Equity-Based Remuneration (EEBR) Scheme payments.Exchange loss (trade and revenue in nature).Employee's income tax paid by the employer.Insurance costs for underwriting bad trade debts.Interest incurred on late payment of fees to a Management Corporation for a Strata Title Plan (MCST).Interest incurred on loans intended for re-financing previous loans or borrowings.Intellectual property (IP) licensing expenditure.Legal and professional fees incurred in trade and revenue transactions.

SINGAPORE CLAIM AS BUSINESS EXPENSE BAR EXAM PLUS

SINGAPORE CLAIM AS BUSINESS EXPENSE BAR EXAM REGISTRATION

Costs incurred in the registration of trademarks, patents, and designs.Retrenchment payments, including contractual retrenchment payments, ex-gratia retrenchment payments, and outplacement support costs - as long as there’s no complete business cessation.

Staff remunerations, including bonuses, salaries, and allowances.Supplementary Retirement Scheme (SRS) contributions.Tax fees, including the service fees that you pay a tax agent.Transport and travel costs for business assignments.The IRAS allows you to declare the following as deductible business expenses: Examples of Deductible and Non-Deductible Business Expenses Well, this where you place capital expenses like the funds you spend on fixed assets and company incorporation, as well as all the personal expenses that you incur along with your employees - including entertainment and travel costs. In other words, the costs should not have been incurred in the generation of income. Non-deductible business expenses are the direct opposite of deductible expenses.