March 28, 2024
Undischarged Bankrupt
An undischarged bankrupt refers to an individual who has been declared bankrupt by a court of law but has not yet been released or discharged from their bankruptcy…
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March 28, 2024
Variable Capital Company (VCC)
A Variable Capital Company (VCC) is a corporate structure introduced in Singapore for investment funds. It allows share capital to vary without shareholder approval and enables easy issuance…
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March 28, 2024
Venture Capitalist (VC)
A Venture Capitalist (VC) is an individual or firm that provides financial capital to startup companies and small businesses with high growth potential in exchange for an equity…
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Wage Credit Scheme
The Wage Credit Scheme (WCS) is a Singapore government programme that co-funds wage increases for eligible local employees. Under the scheme, the Government shares part of the cost…
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March 28, 2024
Withholding Tax (Section 45)
Withholding Tax, as governed by Section 45 of the Singapore Income Tax Act, is a tax levied on certain types of income earned by non-resident individuals or companies…
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XBRL
XBRL, which stands for eXtensible Business Reporting Language, is a standardised markup language used for the electronic communication of business and financial data. It facilitates the efficient exchange,…
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Xero
Xero is a cloud-based accounting software platform designed to streamline financial management processes for businesses of all sizes. Widely recognized for its user-friendly interface and comprehensive features, Xero…
Read article ↗March 27, 2024
Year of Assessment (YA)
In the context of taxation in Singapore, the term “Year of Assessment” (YA) refers to the specific fiscal year in which an individual or company’s income is assessed…
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Zero-Rated Supplies
In the realm of taxation, zero-rated supplies refer to goods or services that are taxable at a rate of zero per cent, meaning that although they are subject…
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March 27, 2024
Zero-Rised Financial Statement
A Zero-Rised Financial Statement refers to a financial statement where all values, typically monetary amounts, are represented as zero. This practice is not a common occurrence in standard…
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