NOTE:
This course (TAX085) has been replaced by the following 2 courses:
   a) Income Tax Treatment on Foreign-Sourced Income (Code: TAX249)
   b) Withholding Tax - Fundamentals that Accountant Need to Know! (Code: TAX247)
Click on the course title for more details.

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Programme Objective

Withholding tax is an area, which tends to be overlooked by many companies. The responsibility of withholding tax deduction and accountability lies with the Singapore companies that are making the payments to non-residents. Hence, this programme aims to provide participants with the knowledge of the types of payments that are subject to withholding tax, the administrative procedures that need to be complied with.

Also, it is important to know how to avoid or reduce being ‘taxed’ in more than one country for the same source of income. Also it is for participants to have a better understanding on tax treaties and reliefs and exemptions available for Foreign Sourced Income received in Singapore.

Programme Outline

Withholding Tax

• What is withholding tax
• Types of payments subject to withholding tax
  • Interest
  • Royalties
  • Technical assistance fees
  • Rent from moveable property
  • Directors’ remuneration
  • Non-Resident Professionals
  • Non-Resident Public Entertainers
• Concept of Permanent Establishment
• Deemed sources of income - sec 12
• Administrative procedures - sec 45, 45A
• Withholding Tax and e-commerce transactions
• Withholding Tax and Double Tax Agreements
• Waiver of withholding tax
• Date of Payment of Withholding Tax
• Penalties
• Case Studies
• Latest updates from IRAS 

Foreign Sourced Income

• Income Tax Treatment on Foreign Sourced Income for Resident and Non Resident Companies.
• Introduction to Tax Treaties
  • Definitions of the scope of the DTA
  • Definition of Residence and permanent establishment
  • Treaty treatment on various income including business profits, royalties, dividend and interest income etc
  • Treaty treatment on personal income
  • Elimination of Double Taxation
  • Tax Sparing Credit
  • Mutual Agreed Procedures
  • Case studies of two tax treaties
• Unilateral Tax Relief
• Exemption on tax on foreign sourced income under S13(8) and S 13(12)
• Latest updates from IRAS

Closing Date for Registration

1 week before programme or until full enrolment.
 

Intended For

Personnel who are involved in handling payments, negotiating contracts for the company, and those who wish to have withholding tax and foreign sourced income knowledge. However, participants must have basic knowledge of Singapore tax system. It is also intended for Personnel who are involved in tax planning or handling corporate tax issues for the companies or clients.

Programme Facilitator(s)