Singapore’s corporate tax incentives available are in the forms of either a tax exemption, reduced tax rate or tax allowance, subject to rigorous qualifying conditions. These incentives help companies from a broad range of industries optimise their effective tax rates.
Using multiple case study examples, this workshop will focus on the practical aspect of tax incentives, including presenter’s tips when negotiating with the relevant government agencies, Singapore’s corporate tax incentive environment in a post COVID-19 world, and a summary of the most common tax incentives and the broad requirements to qualify
Singapore’s Tax Incentive Environment
- Singapore’s International Tax Strategy
- Key Agencies involved in Tax Incentives
- Underlying Principles of Tax Incentives
- Singapore’s Tax Regime Under An International Lens
- Base Erosion and Profit Shifting (“BEPS”) and where Singapore stands
What are the Key Corporate Tax Incentives in Singapore?
- Overview of the key tax incentives in Singapore, its objectives, and the headline requirements to qualify
- Global Trader Programme (“GTP”)
- Introduction and Case Study
- Possible Trading Models
- Key Features
- Qualitative Criteria
- Qualifying Transactions, Products, and Income
- Other Criteria
- Functions (5% Rate)
- Business Spending
- Trading Professionals
- Key Enhancements Made Over the Years
- International Headquarters Programme
- Introduction and Case Study
- Qualitative Criteria and Requirements
- Qualifying Activities
- Intellectual Property (“IP”)
- Introduction and Case Study
- R&D Tax Incentive
- Other R&D claims
- Key candidates for IP incentives
- Acquiring, Disposing, & Registering of IP
- IP Development Incentive
- Case Study
- Finance and Treasury Centre Incentive
- Introduction and Case Study
- Objectives and Key Criteria
- Benefits
- Qualifying Services, Activities, Sources of Funds
What are the Key Tax Issues Faced by Tax Incentivized Companies?
- Incentive compliance: Common issues faced and common areas of scrutiny in tax filing
- Weighing the advantages and disadvantages of incentives
Corporate Tax Incentive Application and Negotiation Process
- Tax incentive application process
- Incentive negotiation and common pitfalls to avoid during the negotiation process
The Future of Tax Incentives
- Singapore’s value proposition and the implications for the future of Singapore tax incentive regime
- BEPS 2.0
Q&A
Appendices
Mr Abner KohExecutive Director
BDO Tax Advisory Pte. Ltd.
Accredited Tax Advisor (Income Tax)
Abner has more than 14 years of experience in Singapore and cross-border tax matters.
He has been actively involved in providing tax advisory services to clients in various industries. He also has a focus on private clients and family enterprises. Abner has assisted in several international and cross-border structuring projects involving family offices, financial institutions, infrastructure funds, hedge funds, private equity investments, pre-IPO listings; and merger and acquisition deals including performing tax due diligence, advising on investment structures, and corporate restructuring work.
Abner believes that going forward, it is important for tax advisors to go to the market together with experts and specialists from different teams in the organization, as clients are increasingly looking for holistic and practical solutions for their businesses.