by Willie Tan | Jul 9, 2025 | Glossary
An Ultimate Beneficial Owner (UBO) refers to the natural person(s) who ultimately own or control a legal entity or arrangement, even when the ownership or control is exercised through intermediate layers or nominees. This concept focuses on identifying the real...
by Willie Tan | Jul 9, 2025 | Glossary
Treasury shares are issued shares of a company that it has reacquired. This concept was introduced with the Companies (Amendment) Act 2005, effective from 30 January 2006. Prior to this, shares repurchased by a company were immediately cancelled. The current regime...
by Willie Tan | Jul 1, 2024 | Glossary
The Institute of Singapore Chartered Accountants (ISCA) is the national professional accountancy body in Singapore. It plays a crucial role in the accounting profession in the country. Here are some key points about ISCA: Established: ISCA was...
by Willie Tan | Jul 1, 2024 | Glossary
Statutory income is a term used primarily in tax law to refer to income specifically defined by statute as subject to tax. This type of income includes all earnings that are legally required to be reported to the tax authorities and is subject to taxation according to...
by Willie Tan | Jun 28, 2024 | Glossary
The Comptroller of Income Tax in Singapore is a key official within the Inland Revenue Authority of Singapore (IRAS), responsible for the administration and enforcement of income tax laws. The role involves several critical functions and powers as stipulated in the...
by Willie Tan | May 31, 2024 | Glossary
A branch office in Singapore is a legal structure that allows a foreign company to establish a presence in Singapore. It is essentially an extension of the parent company and not a separate legal entity. Here are some key characteristics of a branch office in...
