Tax 101 Series: Intangible Assets - Writing-down Allowances

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11 May 2021, Tuesday

01.00 - 02.30PM

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Programme Synopsis

"IP IS AN ASSET. IP IS PROTECTION AGAINST COMPETITION. IP CAN MAXIMISE VALUE" – A good many of experts have viewed the intellectual property (IP) as a company strategic asset and should be managed to leverage the optimum value from it, at the same time, they also concur that taxpayer should take the tax implications on IP seriously. In tandem with these widespread acceptable practices, understanding your fundamental tax rights (entitlements) will allow you to manage your tax risk and save tax legally.

"Tax planning is all about long-term thinking." Understanding your fundamental tax rights (entitlements) will allow you to manage your tax risk (and saving tax legally) with confidence.

This session discusses the thorny tax implications of intangible assets, including WHT liabilities and writing-down allowances that may be claimed by a taxpayer in connection with expenditures incurred on the creation of intangible assets.

This session is a mix of practical experience and academic knowledge.

Programme Outline

  • Singapore tax system
  • Why Intangible Assets? What is the nature of the writing-down allowances that may be granted in connection with intangible assets?
  • What are the conditions that must be fulfilled before claiming a writing-down allowance for intellectual property rights?
  • Intangible assets and its broader tax implications – identifying WHT risks
  • Exploratory case study - IP & Business Strategy
  • Q&A

About the Presenter(s)/ Trainer(s)

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Mr Kevin Matthaios Lee
Advisory 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. 


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