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The year 2024 provided us with tax cases covering both perennial and novel issues. Even with case laws as references, classic topics such as (i) capital allowance claims for plant and machinery, (ii) assessing whether gains are of an income nature and taxable or (iii) the scope of anti-avoidance provisions continue to punctuate the tax disputes scene in 2024.
Why is this so? What was different in 2024's cases? What new factors should be noted in 2024's cases? Further, decisions were made on novel issues such as the first prosecution case for unauthorised collection of GST.
Join Accredited Tax Advisor (Income Tax) Mr Allen Tan, Principal, Mr Jeremiah Soh, Local Principal, Mr Shawn Joo, Senior Associate and Mr Clinston Chiok, Associate at Baker & McKenzie.Wong & Leow, as they dissect the various controversies, give their insights on the cases, as well as share what these mean to you and your clients.
Know the tax areas that were in the spotlight in 2024 and understand the implications that these decisions will have on future cases.
Income Tax
- Understand the application of Section 19A of the Income Tax Act (ITA) and High Court’s clarification on the “ZF factors” in determining if an asset is “plant or machinery” or “building or structure” in Changi Airport Group v CIT
- Learn more on the application of the “three-stage AQQ test” in the context of Section 33 of the ITA in the case of GIP v CIT
- Appreciate the scope and applicable test when ascertaining if a gain is taxable under Section 10(1)(g) of the ITA in the case of GIO v CIT
Goods & Services Tax
- Comprehend the sentencing matrix for the first prosecution case for unauthorised collection of GST under Section 64A of the GST Act in PP v Vijay Kumar Muvva
Stamp Duty
- Consider the admissibility implications of an unstamped instrument in Lian Hoe Leong & Brothers Pte. Ltd. v Texas Petrochemical Asia Pacific Pte. Ltd.
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