by Willie Tan | Apr 14, 2024 | Glossary
A will is a legal document that outlines a person’s wishes regarding the distribution of their assets and the management of their affairs after death. A will allows individuals to specify how they want their property, possessions, and other assets to be...
by Willie Tan | Apr 14, 2024 | Glossary
A trust is a legal arrangement in which one party, known as the settlor or grantor, transfers ownership of assets to another party, known as the trustee, to hold and manage on behalf of designated beneficiaries. Trusts are established for various purposes, such as...
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...
