Course Detail(TAX249 : Income Tax Treatment on Foreign-Sourced Income)

SDF Funding, SkillsFuture Credit, UTAP Funding

TAX249 : Income Tax Treatment on Foreign-Sourced Income NEW

7.00 CPE Hours (Others)
Classroom


Programme Objective
 
Generally, Singapore levies tax on foreign-sourced income ‘received in’ Singapore. Exemption may be given to certain foreign-sourced income when the qualifying conditions are satisfied. Hence, it is important to know how to avoid or reduce being ‘taxed’ in more than one country for the same source of income. This course will provide participants with better understanding on tax treaties, reliefs and exemptions that are available for foreign-sourced Income received in Singapore.
 

Programme Outline

 

  • Income Tax Treatment on Foreign Sourced Income for Resident and Non Resident Companies
  • Introduction to Tax Treaties
    • Definition and the scope of Double Tax Agreement (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
  • Tax exemption on foreign sourced income under S13(8) and S 13(12)
  • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI)
  • International Tax Compliance Agreement (A brief discussion on Foreign Account Tax Compliance Act (FATCA), Common Reporting Standards and Country-by-Country Reporting (CbCR))
  • Exchange of Information (EOI)
  • Latest updates from IRAS

Training Methodology

Lecture style

Closing Date for Registration

1 week before programme or until full enrolment.

 

Intended For

A Foundation to Intermediate level programme intended for Accounting, Finance and Tax Professionals. Tax professionals who have corporate or individual clients with multi-jurisdictional tax exposure who seek to legally minimise tax claims against them, will find this course useful. Participants must have basic knowledge of Singapore tax system.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

27 May 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

A. Geetha

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

03 Dec 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

A. Geetha

Venue

60 Cecil Street
ISCA House
Singapore 049709

Date & Time

05 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Date & Time

07 Aug 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

A. Geetha

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 27 Jun 2020
Course Ref No. : CRS-N-0050096

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. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

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

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, please proceed to submit SFC claim on Skillsfuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal here: http://www.skillsfuture.sg/credit.

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 $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 27 Jun 2020
Funded Hours: 7 hours
Course Ref No. : CRS-N-0050096

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

Employers of company-sponsored participants must submit training grant via SkillsConnect system to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

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. 


Programme Objective
 
Generally, Singapore levies tax on foreign-sourced income ‘received in’ Singapore. Exemption may be given to certain foreign-sourced income when the qualifying conditions are satisfied. Hence, it is important to know how to avoid or reduce being ‘taxed’ in more than one country for the same source of income. This course will provide participants with better understanding on tax treaties, reliefs and exemptions that are available for foreign-sourced Income received in Singapore.
 

Programme Outline

 

  • Income Tax Treatment on Foreign Sourced Income for Resident and Non Resident Companies
  • Introduction to Tax Treaties
    • Definition and the scope of Double Tax Agreement (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
  • Tax exemption on foreign sourced income under S13(8) and S 13(12)
  • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI)
  • International Tax Compliance Agreement (A brief discussion on Foreign Account Tax Compliance Act (FATCA), Common Reporting Standards and Country-by-Country Reporting (CbCR))
  • Exchange of Information (EOI)
  • Latest updates from IRAS

Training Methodology

Lecture style

Closing Date for Registration

1 week before programme or until full enrolment.

 

Intended For

A Foundation to Intermediate level programme intended for Accounting, Finance and Tax Professionals. Tax professionals who have corporate or individual clients with multi-jurisdictional tax exposure who seek to legally minimise tax claims against them, will find this course useful. Participants must have basic knowledge of Singapore tax system.

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

Date & Time

27 May 2020 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 345.61
For Non-Members: $ 415.16

Programme Facilitator(s)

A. Geetha

Venue

60 Cecil Street
ISCA House
Singapore 049709