Course Detail(TAX127v : Corporate Tax Workshop for Non-Tax Professionals (Synchronous e-learning))

SkillsFuture Credit, UTAP Funding

TAX127v : Corporate Tax Workshop for Non-Tax Professionals (Synchronous e-learning)

14.00 CPE Hours (Others)
Live Webinar

This session is delivered via live webinar (zoom platform).

A detailed set of instructions on the Live Webinar will be sent to you closer to date.

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)


Pre-requisites

Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking


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

18 Jul 2024 (9:00 AM - 5:00 PM)
19 Jul 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 570.07
For Non-Members: $ 679.07

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore

Date & Time

23 Sep 2024 (9:00 AM - 5:00 PM)
24 Sep 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 570.07
For Non-Members: $ 679.07

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore

Testimonial


I found this webinar useful for those who have zero knowledge of corporate tax, and it will help a lot when preparing tax computations for the company

Past Participant


I have a better understanding of Singapore tax system after the course. It is very helpful for non tax professional or beginners.

Past Participant


Have gained better understanding on the different aspects of corporate tax in Singapore, which will be useful in my work if I am required to prepare corporate tax computation for the company.

Past Participant

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 31 Dec 2024
Course Reference Number: TGS-2020501124

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit www.myskillsfuture.gov.sg)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $43.20 for any revision of invoice.

 

2] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

To find more on the UTAP funding and support validity period please click here.


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
FCA (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 where he teaches taxation and advanced taxation modules.  This is a full-time employment from 1 Jul 2014.  Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.  He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. 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 GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.  Simon continues to be active in professional tax-related work outside his teaching responsibilities.

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, an ASEAN CPA since 2017, 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. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served as Chairman of the SME Tax Committee since 2012.   Simon also served as a Board Member of SIATP from January 2013 to March 2020.  In 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax.  Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.  He is the author of Taxation in Singapore which was first published in 2008.  In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).

This session is delivered via live webinar (zoom platform).

A detailed set of instructions on the Live Webinar will be sent to you closer to date.

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)


Pre-requisites

Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking


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
FCA (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 where he teaches taxation and advanced taxation modules.  This is a full-time employment from 1 Jul 2014.  Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.  He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. 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 GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.  Simon continues to be active in professional tax-related work outside his teaching responsibilities.

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, an ASEAN CPA since 2017, 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. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served as Chairman of the SME Tax Committee since 2012.   Simon also served as a Board Member of SIATP from January 2013 to March 2020.  In 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax.  Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.  He is the author of Taxation in Singapore which was first published in 2008.  In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).


Upcoming Schedule

Date & Time

18 Jul 2024 (9:00 AM - 5:00 PM)
19 Jul 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 570.07
For Non-Members: $ 679.07

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore