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If you have a question, you may find your answer here in our FAQ section. Click on the topics (listed in alphabetic order) below to view the subtopics (if any), questions and answers. Post-publication changes in legislation, government policies, or the interpretation of the law could affect the validity of the information contained herein. Answers provided are current as of the date on which they are added.

Answers to these questions are not an exhaustive treatment or analysis of such subject(s) and related law. Accordingly, information herein is not intended to constitute accounting, tax, legal, investment, consulting or other professional advice or services. Before making any decision or taking any action that might affect your personal finances or business, you should consult a qualified professional adviser. Use of information is at your own risk.

Frequently Asked Questions on Business Tax

  1. Employee and Payroll Expenses
    1. My business hired some workers who are supposed to be self-employed. Do I need to pay payroll expenses on fees paid to these workers?
  2. Incorporation
    1. When is now a good time to incorporate a limited company to run a business?
    2. Can incorporating my business protect my personal assets?
    3. I am employed now. Can I incorporate to reduce my tax burden?
  3. Activities Involving Research and Development
    1. Is there any tax incentives to encourage research and development activities?
  4. Others
    1. Can I change my fiscal year end? If yes, how?
    2. There is a loss (negative net income) in my incorporated business. Can this loss be carried backward and forward?
    3. What are the tax implications of loans to shareholders or someone related to one?

[This page was added on April 6, 2009, last revised on 16 April 2015.]