Course Detail(TAX085 : Income Tax Treatment on Withholding Tax & Foreign Sourced Income)

SkillsFuture Credit, UTAP Funding

TAX085 : Income Tax Treatment on Withholding Tax & Foreign Sourced Income

7.00 CPE Hours (Others)
Classroom


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This course (TAX085) has been replaced by the following 2 courses: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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Important:

If you wish to use your SFC to pay for partial/full ISCA course fee , please login to the SFC portal (http://www.skillsfuture.sg/credit) with your Singpasswithin 60 days before the course start date to submit a SFC Claim and obtain the necessary approval. For more information on SFC procedure, please click here.
 
Failure to submit claim application via SkillsFuture Portal and obtain necessary approval before the course start datewill result in topping up of the SFC indicated for use and an administrative fee of $42.80 to revise the invoice based on the amount of SFC you have indicated to use.


SDF Funding (Corporate Registration only)
To enroll participants with SDF Funding, please click here to download the manual form.
Online registration via ISCA Portal will not be eligible for SDF Funding.


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.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

21 Feb 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Date & Time

12 Dec 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Date & Time

02 Aug 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Testimonial

Funding

 
1] SkillsFuture Credit
Funding Period: Until 21 Feb 2020

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SkillsFuture credit may be accumulated to pay for skills related course fees. For more information on the SkillsFuture Credit scheme, please visit http://www.skillsfuture.sg/credit

If you wish to use your 
SFC to pay for partial/full ISCA course fee , please login to the SFC portal(http://www.skillsfuture.sg/creditwith your Singpasswithin 60 days before the course start date to submit a SFC Claim and obtain the necessary approval. For more information on SFC procedure, please click here.
 
Failure to 
submit claim application via SkillsFuture Portal and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use and an administrative fee of $42.80 to revise the invoice based on the amount of SFC you have indicated to use. Please note that there will be an admin fee of $42.80 for any wrong registration or revision of invoice. 

2] SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (eligibility criteria apply). 
 
To enroll participants with SDF Funding, please click here to download the manual form.
Incomplete registration form will not be processed.  
Online registration via ISCA Portal will not be eligible for SDF Funding. Please note that there will be an admin fee of $42.80 for any wrong registration or revision of invoice. 
 
Funding Period: Until 21 Feb 2020
Funded Hours: 7 hours
Course Reference Number: CRS-N-0042284
 
Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).


3] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

  • Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
  • Course by training provider must be supported under UTAP and training must commence within the supported period and;
  • Unfunded course fee must not be fully sponsored by company or other types of funding
  • Unfunded course fee must be S$20.00 and above, and;
  • Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
  • UTAP application must be made within 6 months after course ends.


To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
 
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

 

Programme Facilitator(s)


A. Geetha
CA (Singapore) with Certificate for Practice, MBA (Investment and Finance)


Geetha is the founder partner of a Certified Public Accounting Firm. She has more than 20 years of experience in handling Singapore Tax issues and cross border tax issues.

She regularly trains and updates practising and non-practising CAs and the general public in related field on Singapore Income Tax. She has also lectured on the Singapore Income Tax and Planning for ACCA students and students aspiring to be Chartered Financial Planners (CFP).

She has authored revision kits for tax students and also acted as an appointed examiner for an Advanced Tax Paper. 


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.

----------------------------------------------------------------------------------------------------------------------------------
Important:

If you wish to use your SFC to pay for partial/full ISCA course fee , please login to the SFC portal (http://www.skillsfuture.sg/credit) with your Singpasswithin 60 days before the course start date to submit a SFC Claim and obtain the necessary approval. For more information on SFC procedure, please click here.
 
Failure to submit claim application via SkillsFuture Portal and obtain necessary approval before the course start datewill result in topping up of the SFC indicated for use and an administrative fee of $42.80 to revise the invoice based on the amount of SFC you have indicated to use.


SDF Funding (Corporate Registration only)
To enroll participants with SDF Funding, please click here to download the manual form.
Online registration via ISCA Portal will not be eligible for SDF Funding.


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.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

A. Geetha
CA (Singapore) with Certificate for Practice, MBA (Investment and Finance)


Geetha is the founder partner of a Certified Public Accounting Firm. She has more than 20 years of experience in handling Singapore Tax issues and cross border tax issues.

She regularly trains and updates practising and non-practising CAs and the general public in related field on Singapore Income Tax. She has also lectured on the Singapore Income Tax and Planning for ACCA students and students aspiring to be Chartered Financial Planners (CFP).

She has authored revision kits for tax students and also acted as an appointed examiner for an Advanced Tax Paper. 

Upcoming Schedule

Registration is closed

Date & Time

21 Feb 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 329.56
For Non-Members: $ 398.04

Programme Facilitator(s)

A. Geetha

Venue

60 Cecil Street
ISCA House
Singapore 049709