by Willie Tan | Aug 19, 2025 | Glossary
A basis period is the specific accounting period for which a business’s or individual’s profits are assessed for tax purposes. In Singapore, this is typically the financial year ending in the preceding calendar year for a particular Year of Assessment...
by Willie Tan | Aug 19, 2025 | Glossary
The General Ledger (GL) is the central repository and master accounting record for a company’s financial data. It contains a complete history of all financial transactions, organised and summarised by individual accounts as defined in the company’s Chart...
by Willie Tan | Aug 19, 2025 | Glossary
For young individuals with a passion for travel and a desire for international work experience, Singapore’s Ministry of Manpower (MOM) offers the Work Holiday Pass. This pass grants eligible foreign university students and recent graduates the opportunity to...
by Willie Tan | Aug 7, 2025 | Glossary
Preference shares are a type of share issued by Singapore-incorporated companies that provide shareholders with preferential rights over ordinary shareholders, especially in respect of dividends and asset distribution during liquidation. Definition and Key Features...
by Willie Tan | Aug 7, 2025 | Glossary
A subsidiary company is a corporation or business entity that is at least 50% owned and controlled by another company, known as the parent or holding company. If the parent owns 100% of the subsidiary’s shares, it is called a wholly owned subsidiary. Key...
by Willie Tan | Aug 7, 2025 | Glossary
Tax residency in Singapore is a critical status that determines how individuals and companies are taxed, what tax rates apply, and eligibility for tax reliefs, deductions, and international tax treaty benefits. For Individuals: How Tax Residency is Determined...
