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Which everyday business expenses are deductible against corporate income, and which ones consistently get disallowed.
Singapore allows deductions for expenses wholly and exclusively incurred in producing income. The rule is broad and the boundaries are well established through IRAS guidance.
Commonly deductible
- Employee salaries, CPF contributions and bonuses.
- Office rent and utilities.
- Marketing and advertising spend.
- Professional fees for accounting, legal and tax services.
Commonly disallowed
- Personal expenses paid through the company.
- Fines and penalties.
- Private vehicle costs other than approved exceptions.