Course Detail(TAX127 : Corporate Tax Workshop for Non-Tax Professionals)

SkillsFuture Credit, UTAP Funding

TAX127 : Corporate Tax Workshop for Non-Tax Professionals

14.00 CPE Hours (Others)
Classroom

Important:
Funding Period: Until 28 November 2019
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 Singpass, within 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.
 
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

Whether you are the CEO of a small or large organization; or a manager or executive in a finance or non- finance role, you would benefit from this workshop as you would learn and gain insights into essential tax laws and practices in Singapore as well as common practical tax planning techniques.  Where applicable, practical examples, illustrations and case studies (including recent court cases) will be used to enable participants to relate and apply to real life tax situations.

The topics covered in this workshop is pitched at a macro level and would be relevant to any professional who is concerned with the bottom line (i.e. profit after tax) of his organisation. 

As this is a basic corporate tax programme, it is more suitable for non-tax professionals or very junior tax professionals.

Programme Outline

Day 1
 
Topic 1:  Introduction to Singapore Tax System 
 
  • Introduction & overview 
  • Legislative framework for taxation
  • Income tax administration
  • Structure of Income Tax Act
  • Basic tax concepts 
  • territorial basis
  • tax entities 
  • year of assessment and basis period
  • tax residence
Topic 2:  Concept of Income
  • Distinction between income and capital
  • Source of Income
  • “Trading in” vs. “Trading With”
  • Concept of Permanent Establishment
  • Charging Provision: Section 10(1)
  • Deemed Remittance Rules
  • Trade, business, profession, vocation
  • Tax exempt income
  • Deemed source income
Topic 3: Tax Deductions 
  • Distinction between revenue and capital expenditure
  • General deduction formula
  • Allowable expenses 
  • Prohibited expenses
  • Special, further and double deductions
  • Donations
  • Productivity and Innovation Credit (PIC) 
Topic 4:  Capital Allowances 
  • Concept of capital allowances 
  • Plant & machinery allowances
  • Writing Down Allowance (WDA)
  • Productivity and Innovation Credit (PIC) 
  • Industrial Building Allowance (IBA) / Land Intensification Allowance (LIA)
Day 2
 
Topic 5: Taxation of Businesses 
  • Chargeable income and tax liability
  • Relief for unabsorbed trade losses, capital allowances & donations
  • Loss transfer system of group relief 
  • Loss carry-back system
  • Dividends & distributions of corporate profits
  • One-tier corporate tax system
  • Sample tax computation
Topic 6:  Taxation of Non-Residents 
  • Deeming provisions
  • Withholding tax
  • Non-residents doing business in Singapore
  • Permanent establishments
Topic 7:  Taxation of Foreign Income 
  • Basis of taxation of foreign income
  • Deemed remittance rules
  • Tax exemption for foreign source income
  • Methods of relieving double taxation
  • Claims for foreign tax credits
  • Double taxation relief (DTR)
  • Unilateral tax relief (UTR)
  • Double taxation agreements (DTAs)

Closing Date for Registration
1 week before programme or until full enrolment.
 

Intended For

A Foundation to Intermediate programme for junior tax professionals and non-tax professionals who are concerned with the company's bottom-line and work closely with tax staff to achieve higher profits after tax for the company.

Competency Mapping

Others = 14.00 Hours

Schedule & Fees

Date & Time

16 Jul 2019 (9:00 AM - 5:00 PM)
17 Jul 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

27 Nov 2019 (9:00 AM - 5:00 PM)
28 Nov 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

19 Mar 2019 (9:00 AM - 5:00 PM)
20 Mar 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Date & Time

19 Dec 2018 (9:00 AM - 5:00 PM)
20 Dec 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Date & Time

23 Jul 2018 (9:00 AM - 5:00 PM)
24 Jul 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 28 November 2019

Course Ref No.: CRS-N-0035510

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/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 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.


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 28 November 2019
Funded Hours: 14 hours

Course Ref No.: CRS-N-0035510
 
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.
 
Please refer to the UTAP Application Guide here on how union members can apply for UTAP via the system.
 
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)


Assoc Prof (Practice) Simon Poh
FCPA Singapore, ATA (Income Tax and GST), MSID, MBA


Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School. Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with close to three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and goods and services tax. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms. His extensive experience includes goods and services tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993. He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. At SIATP, he is a Board Member and Chairman of both the SME Tax Committee and the Examinations Committee. Simon has also been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.

Simon is the author of "Taxation in Singapore" which was published since 2008. Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies, he is also a regular contributor to the local and foreign media on current taxation issues.

Important:
Funding Period: Until 28 November 2019
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 Singpass, within 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.
 
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

Whether you are the CEO of a small or large organization; or a manager or executive in a finance or non- finance role, you would benefit from this workshop as you would learn and gain insights into essential tax laws and practices in Singapore as well as common practical tax planning techniques.  Where applicable, practical examples, illustrations and case studies (including recent court cases) will be used to enable participants to relate and apply to real life tax situations.

The topics covered in this workshop is pitched at a macro level and would be relevant to any professional who is concerned with the bottom line (i.e. profit after tax) of his organisation. 

As this is a basic corporate tax programme, it is more suitable for non-tax professionals or very junior tax professionals.

Programme Outline

Day 1
 
Topic 1:  Introduction to Singapore Tax System 
 
  • Introduction & overview 
  • Legislative framework for taxation
  • Income tax administration
  • Structure of Income Tax Act
  • Basic tax concepts 
  • territorial basis
  • tax entities 
  • year of assessment and basis period
  • tax residence
Topic 2:  Concept of Income
  • Distinction between income and capital
  • Source of Income
  • “Trading in” vs. “Trading With”
  • Concept of Permanent Establishment
  • Charging Provision: Section 10(1)
  • Deemed Remittance Rules
  • Trade, business, profession, vocation
  • Tax exempt income
  • Deemed source income
Topic 3: Tax Deductions 
  • Distinction between revenue and capital expenditure
  • General deduction formula
  • Allowable expenses 
  • Prohibited expenses
  • Special, further and double deductions
  • Donations
  • Productivity and Innovation Credit (PIC) 
Topic 4:  Capital Allowances 
  • Concept of capital allowances 
  • Plant & machinery allowances
  • Writing Down Allowance (WDA)
  • Productivity and Innovation Credit (PIC) 
  • Industrial Building Allowance (IBA) / Land Intensification Allowance (LIA)
Day 2
 
Topic 5: Taxation of Businesses 
  • Chargeable income and tax liability
  • Relief for unabsorbed trade losses, capital allowances & donations
  • Loss transfer system of group relief 
  • Loss carry-back system
  • Dividends & distributions of corporate profits
  • One-tier corporate tax system
  • Sample tax computation
Topic 6:  Taxation of Non-Residents 
  • Deeming provisions
  • Withholding tax
  • Non-residents doing business in Singapore
  • Permanent establishments
Topic 7:  Taxation of Foreign Income 
  • Basis of taxation of foreign income
  • Deemed remittance rules
  • Tax exemption for foreign source income
  • Methods of relieving double taxation
  • Claims for foreign tax credits
  • Double taxation relief (DTR)
  • Unilateral tax relief (UTR)
  • Double taxation agreements (DTAs)

Closing Date for Registration
1 week before programme or until full enrolment.
 

Intended For

A Foundation to Intermediate programme for junior tax professionals and non-tax professionals who are concerned with the company's bottom-line and work closely with tax staff to achieve higher profits after tax for the company.

Competency Mapping

Others = 14.00 Hours

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh
FCPA Singapore, ATA (Income Tax and GST), MSID, MBA


Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School. Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with close to three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and goods and services tax. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms. His extensive experience includes goods and services tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993. He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. At SIATP, he is a Board Member and Chairman of both the SME Tax Committee and the Examinations Committee. Simon has also been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.

Simon is the author of "Taxation in Singapore" which was published since 2008. Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies, he is also a regular contributor to the local and foreign media on current taxation issues.

Upcoming Schedule

Date & Time

16 Jul 2019 (9:00 AM - 5:00 PM)
17 Jul 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 620.60
For Non-Members: $ 736.16

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

60 Cecil Street
ISCA House
Singapore 049709