Menu
| Procure investment-grade 1kg gold bars at spot +0.25%. Enquire within. |
| Procure investment-grade 1kg gold bars at spot +0.25%. Enquire within. |
Deductible business expenses reduce a company’s taxable income and the amount of tax a company needs to pay. In Singapore, generally, deductible business expenses are those ‘wholly and exclusively incurred in the production of income’. In other words, they must satisfy all these conditions:
Non-deductible business expenses are activities a company pays for that do not fulfill the conditions above. These include personal expenses (such as travel, or entertainment not related to the running of the business) and capital expenses (such as expenses incurred to incorporate a company and the purchase of fixed assets). Examples of deductible & non-deductible business expenses
| Deductible | Non-deductible |
| Accounting feeAdministrative expensesAdvertisementAuditors’ remuneration | Amortisation |
| Bad debts (trade debtors)Bank chargesBook-keeping services | Bad debts (non-trade debtors) |
| CommissionsCarbon credits | Voluntary contributions to CPF |
| Directors’ feesDirectors’ remuneration | DepreciationDividends on preference sharesDonations (except to recognised charities) |
| Employee equity-based remunerationEmployee expenses including CPFEntertainmentExchange losses (trade nature)Exhibition expenses | Expenses incurred before commencement of businessFixed assets write-offFixed assets capital costsFines |
| Income tax of employee borne by employerInsurance premiumInterest expensesIntellectual property licensing expenses | Goodwill paymentsSingapore income tax and any tax on income in country outside of Singapore |
| Legal and professional fees (trade nature)Medical expensesMotor vehicle expenses | Legal and professional fees (non-trade nature) |
| Office upkeepProperty taxPrinting and stationeryProvision for bad and doubtful debts (impairment on trade debts) | PenaltiesPrepaid expensesPrivate and domestic expensesPrivate hire car |
| Rental of business premisesRegistration of patents and trademarksRepairs and maintenanceResearch and development expenses | Renovation or refurbishment worksRetrenchment expenses during cessation of business |
| Secretarial feesStaff training, welfare and benefitsFees paid to tax agentTelephone and utilitiesTransport and travelWages | Withholding taxes on interest payments borne by companies on behalf of non-residents |
About Us
Information
Individual Solutions
Commercial Solutions
Whatsapp +65 8899 3720
support@inproved.com
