by Daryl Lum | May 13, 2024 | Glossary
Deductions, in the context of taxation, refer to specific expenses or allowances that can be subtracted from an individual’s or a company’s assessable income to arrive at their chargeable income. These deductions are typically permitted by tax authorities...
by Daryl Lum | May 13, 2024 | Glossary
Chargeable income in Singapore refers to the taxable income of an individual or a company after deducting allowable expenses, reliefs, and rebates from their assessable income. In other words, it’s the income on which tax is calculated. For individuals,...
by Daryl Lum | May 13, 2024 | Glossary
Assessable income in Singapore refers to the total income earned by an individual or a company that is subject to taxation by the Inland Revenue Authority of Singapore (IRAS). It includes income from employment, business, trade, profession, property, and any other...
by Daryl Lum | May 9, 2024 | Bookkeeping
Mastering the intricacies of financial reporting, particularly eXtensible Business Reporting Language (XBRL) filing in Singapore, presents a formidable challenge. This blog aims to demystify XBRL filing, offering a comprehensive overview encompassing its significance,...
by Daryl Lum | May 9, 2024 | Tax
In Singapore, a Tax Identification Number (TIN) is a critical element for managing tax obligations and facilitating financial dealings, existing in various forms for individuals (either Tax Reference Number (TRN), National Registration Identity Card (NRIC) or Foreign...
