by Willie Tan | Apr 14, 2024 | Glossary
A tax-deductible expense refers to a cost that can be subtracted from a taxpayer’s gross income when calculating their taxable income, thereby reducing the amount of income subject to taxation. Tax deductions are authorised by tax laws and regulations and...
by Willie Tan | Apr 14, 2024 | Glossary
A virtual office is a service that provides businesses with a professional business address, telephone answering, mail handling, and other administrative support without a physical office space. Such services are typically offered by specialised providers who lease...
by Willie Tan | Apr 14, 2024 | Glossary
In Singapore, a Free Trade Zone (FTZ) is a designated area where goods can be imported, stored, processed, and re-exported with minimal customs duties and bureaucratic requirements. FTZs are established to promote international trade, attract foreign investment, and...
by Willie Tan | Apr 13, 2024 | Glossary
Factoring is a financial transaction in which a business sells its accounts receivable (invoices) to a third-party financial company, known as a factor, at a discount. The factor then assumes responsibility for collecting the outstanding invoices from the...
by Willie Tan | Apr 13, 2024 | Glossary
A representative office is a business entity established by foreign companies in a foreign country to conduct non-commercial activities on behalf of the parent company. Representative offices serve as a liaison or extension of the parent company and are typically...
