Taxpayers are often queried on the deductibility of expenses incurred in the commencement of a new activity connected with an existing trade or an existing department's expansion. Furthermore, if the expenses incurred for such activities are reflected separately in the accounts, they may become a subject of investigation. Nevertheless, it is a question whether an existing business has been extended or a new business has commenced where a company initiates a new activity.
This session deals with the crucial test of determining whether the company is involved in two separate and identifiable trades of wholly different natures.. This program is a mix of practical experience and academic knowledge.
1. Singapore tax system
2. Definition and residence of a company
3. Tax treatment of business divisions
4. Computation of a company’s assessable income
5. Exploratory case study - River Estates Sdn Bhd v DGIR (1984)
6. Q&A
Mr Kevin Matthaios LeeAdvisory Consultant
JPL Wong Tax Services Pte Ltd
Accredited Tax Practitioner (Income Tax)
Kevin, a business finance professional, is also a Subject-Matter Expert (SME) in the tax practise of a mid-tier professional services firm, while simultaneously holding a position as a trainer/facilitator where he shares his insights on the global issue in FRS, political science and economics and international business law. He has been a speaker at various seminars, and network (exclusive) events, inter alia, Wolters Kluwer (CCH), ISCA, CIMA and ACCA.