Singapore's Tax Incentive Regime

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14 December 2020, Monday

09.00AM - 05.00PM
60 Cecil Street, ISCA House, Singapore 049709

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Programme Synopsis

Tax has long been a tool to influence behaviour towards desirable economic goals. The fundamental principle of Singapore’s tax policy is to keep tax rates competitive so as to retain our position as an attractive and substantive investment hub. Despite already having one of the lowest corporate income tax rates in the world, currently at 17%, Singapore still offers a wide range of incentives to attract foreign investments. Generally, the tax incentives available are in the forms of either a tax exemption, reduced tax rate or tax allowance, subject to stringent qualifying conditions. In effect, these incentives help companies from a broad spectrum of industries lower their effective tax rates. However, in light of recent global tax development, Singapore’s tax incentive regime has come under public scrutiny and sparked debate on whether Singapore is a tax haven. On completion of this programme, participants should be able to obtain an understanding of:
  • The tax incentive environment in Singapore, including summary data about the available incentive schemes and the broad requirements to qualify, and
  • Global tax developments and its implications on Singapore’s incentive policy.

Programme Outline

1.   Overview of Singapore’s tax incentive environment
  • Objectives of Singapore’s tax policy
  • Role of tax incentives
  • Underlying principles of tax incentives
2. Base Erosion and Profit Shifting (BEPS)
  • Overview of BEPS
  • Where does Singapore stand?
  • BEPS Action 5: Countering harmful tax practices more effectively
  • Is Singapore a preferential tax regime?
3. Key tax incentives in Singapore
  • Summary data about the available incentives schemes, its objective(s) and the broad requirements to qualify
  • How can my business benefit from tax incentives?
  • Case studies
4. Tax incentive related issues
  • Common administrative and accounting related problems during incentive period
  • Cost-benefit analysis for incentive application
  • Incentive compliance framework
5.  Tax incentive application process
  • Tax incentive application process
  • Importance of tax incentive negotiation
  • Common pitfalls to avoid during tax incentive negotiation
6.  Moving forward: Singapore’s value-creating economy
  • Singapore’s future value proposition: value creation
  • Implications for the future of Singapore’s tax incentive regime

About the Presenter(s)/ Trainer(s)

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Mr Ho Kah Chuan
Director, ASEAN Incentives Advisory
KPMG in Singapore

Kah Chuan is a Tax Director with KPMG in Singapore and has amassed more than 15 years of experience in the areas of tax advisory, tax policy formulation, tax treaty negotiation, tax audit and compliance services.  Kah Chuan has assisted many multinationals and local enterprises in solving various tax issues, ranging from corporate tax, personal income tax, Goods and Services Tax, transfer pricing, stamp duty, property tax and customs.  His experience covers providing tax and incentive planning advice on tax-efficient supply chain management, intellectual property management, headquarters and treasury management, and manufacturing activities.  
Kah Chuan started his career with the Inland Revenue Authority of Singapore (IRAS), specialising in taxpayer audit and corporate tax compliance.  He was seconded to the Singapore Ministry of Finance to work on corporate and international tax reforms.  He is often valued for his work experience in the Singapore Economic Development Board (EDB) dealing with incentive and tax policy formulation matters.  He contributes many thought leadership articles on taxation and is a guest lecturer at National University of Singapore law faculty on international taxation law.


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