Corporate Tax Workshop for Non-Tax Professionals (Live Webinar)


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Date:
19 November 2020, Thursday - 20 November 2020, Friday

Time:
09.00AM - 05.00PM
Venue:
Online Classroom in or outside of Singapore

Details/ Promotion:
Please click here for more details and here for the registration form. 
Accredited tax professionals enjoy members' rate!
Contact:
Please refer to organiser’s webpage here.
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Programme Synopsis

Whether you are the CEO of a small or large organization; or a manager or executive in a finance or non- finance role, you would benefit from this workshop as you would learn and gain insights into essential tax laws and practices in Singapore as well as common practical tax planning techniques.  Where applicable, practical examples, illustrations and case studies (including recent court cases) will be used to enable participants to relate and apply to real life tax situations.

The topics covered in this workshop is pitched at a macro level and would be relevant to any professional who is concerned with the bottom line (i.e. profit after tax) of his organisation. 

As this is a basic corporate tax programme, it is more suitable for non-tax professionals or very junior tax professionals.

Programme Outline

Day 1
 
Topic 1:  Introduction to Singapore Tax System 
  • Introduction & overview 
  • Legislative framework for taxation
  • Income tax administration
  • Structure of Income Tax Act
  • Basic tax concepts 
  • territorial basis
  • tax entities 
  • year of assessment and basis period
  • tax residence
Topic 2:  Concept of Income
  • Distinction between income and capital
  • Source of Income
  • “Trading in” vs. “Trading With”
  • Concept of Permanent Establishment
  • Charging Provision: Section 10(1)
  • Deemed Remittance Rules
  • Trade, business, profession, vocation
  • Tax exempt income
  • Deemed source income
Topic 3: Tax Deductions 
  • Distinction between revenue and capital expenditure
  • General deduction formula
  • Allowable expenses 
  • Prohibited expenses
  • Special, further and double deductions
  • Donations
  • Productivity and Innovation Credit (PIC) 
Topic 4:  Capital Allowances 
  • Concept of capital allowances 
  • Plant & machinery allowances
  • Writing Down Allowance (WDA)
  • Productivity and Innovation Credit (PIC) 
  • Industrial Building Allowance (IBA) / Land Intensification Allowance (LIA)

Day 2
 
Topic 5: Taxation of Businesses 
  • Chargeable income and tax liability
  • Relief for unabsorbed trade losses, capital allowances & donations
  • Loss transfer system of group relief 
  • Loss carry-back system
  • Dividends & distributions of corporate profits
  • One-tier corporate tax system
  • Sample tax computation
Topic 6:  Taxation of Non-Residents 
  • Deeming provisions
  • Withholding tax
  • Non-residents doing business in Singapore
  • Permanent establishments
Topic 7:  Taxation of Foreign Income 
  • Basis of taxation of foreign income
  • Deemed remittance rules
  • Tax exemption for foreign source income
  • Methods of relieving double taxation
  • Claims for foreign tax credits
  • Double taxation relief (DTR)
  • Unilateral tax relief (UTR)
  • Double taxation agreements (DTAs)

About the Presenter(s)/ Trainer(s)


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Mr Simon Poh
Associate Professor (Practice)
National University of Singapore Business School
Accredited Tax Advisor (Income Tax and GST), FCA Singapore, MSID, MBA


Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School where he teaches taxation and advanced taxation modules. This is a full-time employment from 1 Jul 2014. Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014. He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms. His extensive experience includes GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments. Simon continues to be active in professional tax-related work outside his teaching responsibilities.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993. He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, an ASEAN CPA since 2017, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served as Chairman of the SME Tax Committee since 2012. Simon also served as a Board Member of SIATP from January 2013 to March 2020. In 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax. Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006. He is the author of "Taxation in Singapore" which was first published in 2008. In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).









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