Tax 101 Series: Group Relief

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14 May 2021, Friday

01.00 - 02.30PM

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Programme Synopsis

Group relief (GR) enables companies to deduct unutilised capital allowances/ trade losses/ donations of one company from another company's assessable income in the same group.

This session deals with the definition of a "group of companies", including the treatment of tax losses and explains the priority of transferors, claimants and loss items in situations where there are multiple transferors or claimants. "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.

IRAS has recently published a ruling related to related parties within the meaning of sections 34D and 13(16) it is timely to explore this topic. This session is a mix of practical experience and academic knowledge.

Programme Outline

  1. Singapore tax system
  2. Members of the same group vs related companies
  3. Transferring loss items under group relief
  4. Transferring/ claiming loss items to/ from more than one company
  5. Exploratory case study – Advance Ruling case (IRAS)
  6. 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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