You are employed or an employee if you perform work under a contract of service where you work under the control of your employer.

You are self-employed when you perform work for others (e.g. provide a service) under a contract for service.

As a self-employed with your own business, you work for yourself and you are in the position to realise a business profit or loss. Your income is derived from the buying and selling of goods, or from providing professional or personal services.

A self-employed may be a sole-proprietor or a partner in a partnership.

Q：	What is sole-proprietor?
A：	A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The legal status of a sole proprietorship can be defined as follows: It is not a separate legal entity from the business owner The business owner has unlimited liability (i.e. the business owner is personally liable for all the debts and losses of the sole proprietorship)  It can sue or be sued in the owner’s name
Q：	What is the tax obligation for sole proprietor?
A：	Sole proprietors are required to file their income tax return (Form B) by 15 Apr/ 18 Apr (if e-file) each year. Due to the Covid-19, IRAS has extended the deadline for both paper filing and e-filing to 31 May 2020.
Q：	What is partnership?
A：	A partnership is a business owned by 2 to 20 partners. The legal status of a partnership can be defined as follows: It is not a separate legal entity from the business owners The partners are personally liable for all the debts and losses of the partnership It can sue or be sued in the partners’ names
Q：	What is the tax obligation for partnership ?
A：	As a partnership is not an entity in law, the partnership does not pay income tax on income earned by the partnership. Instead, each partner will be taxed on his or its share of income from the partnership. Where the partner is an individual, he would need to report his share of income in the income tax return (Form B) by 15 Apr/ 18 Apr (if e-file) each year. Where the partner is a company, it would need to submit Form C-S or Form C by 30 Nov/ 15 Dec (if e-file) each year. The precedent partner is also required to submit the partnership income tax return (Form P) on behalf of the partnership even though the partnership itself does not pay taxes.
Q：	What is the difference between Partnership/Limited Liability Partnership and Limited Partnership?
A：	Partnerships A partnership is a legal relationship between two or more persons who carry out a business with the objective of making profit and sharing the profit between/among them. Limited Liability Partnerships (LLPs) A limited liability partnership (LLP) is a business structure that allows businesses to operate and function as a partnership while giving it the status of a separate legal person. LLP will be regarded in law as "bodies corporate" which is formed by being registered under the LLP Act. Limited Partnership (LP) LP is a business structure that allows businesses to operate and function as a partnership without a separate legal personality from the partners. LP must consist of at least one general partner who has unlimited liability and one limited partner who enjoys limited liability