With an emphasis on tax planning, the Fundamentals of Corporate Tax workshop is crafted to help participants review the fundamentals of Singapore corporate tax concepts and mechanisms and learn to apply them successfully in their everyday business. Practical examples, illustrations and case studies will be used to enable participants to relate and apply to real-life tax situations.
Overview of Singapore Tax System
- Introduction to Singapore income tax system
Administration Matters
- Administration and assessment procedures
- Offences, penalties and appeals procedures
- Objections and appeals
Taxation Concepts
- The charging section
- Badges of trade
- Income vs capital and source of income
Prohibition and Deductibility of Expenses
- General rules of deductibility of expenses
- Further deductions
Capital Allowances on Plant & Machinery
- Meaning of plant and machinery
- s.19 and s.19A
- Industrial building allowances
Losses and Capital Allowances
- Carry forward of unutilised losses and capital allowances
- Carry back of unutilised losses and capital allowances
- Group relief
Withholding Tax
Double Taxation Relief
Pro Forma Tax Computation
Basic Tax Planning