Course Detail(TAX160ET : Singapore's Tax Incentive Regime)

SDF Funding, SkillsFuture Credit, UTAP Funding

TAX160ET : Singapore's Tax Incentive Regime

7.00 CPE Hours (Others)
Classroom
In Collaboration with:  

Programme Overview

This CPE course is conducted in association with KPMG.


Programme Objective

Tax has long been a tool to influence behaviour towards desirable economic goals. The fundamental principle of Singapore’s tax policy is to keep tax rates competitive so as to retain our position as an attractive and substantive investment hub. Despite already having one of the lowest corporate income tax rates in the world, currently at 17%, Singapore still offers a wide range of incentives to attract foreign investments. Generally, the tax incentives available are in the forms of either a tax exemption, reduced tax rate or tax allowance, subject to stringent qualifying conditions. In effect, these incentives help companies from a broad spectrum of industries lower their effective tax rates. However, in light of recent global tax development, Singapore’s tax incentive regime has come under public scrutiny and sparked debate on whether Singapore is a tax haven.
 
On completion of this programme, participants should be able to obtain an understanding of:
  • The tax incentive environment in Singapore, including summary data about the available incentive schemes and the broad requirements to qualify, and
  • Global tax developments and its implications on Singapore’s incentive policy.

Programme Outline

1.   Overview of Singapore’s tax incentive environment
  • Objectives of Singapore’s tax policy
  • Role of tax incentives
  • Underlying principles of tax incentives
2. Base Erosion and Profit Shifting (BEPS)
  • Overview of BEPS
  • Where does Singapore stand?
  • BEPS Action 5: Countering harmful tax practices more effectively
  • Is Singapore a preferential tax regime?
3. Key tax incentives in Singapore
  • Summary data about the available incentives schemes, its objective(s) and the broad requirements to qualify
  • How can my business benefit from tax incentives?
  • Case studies
4. Tax incentive related issues
  • Common administrative and accounting related problems during incentive period
  • Cost-benefit analysis for incentive application
  • Incentive compliance framework
5.  Tax incentive application process
  • Tax incentive application process
  • Importance of tax incentive negotiation
  • Common pitfalls to avoid during tax incentive negotiation
6.  Moving forward: Singapore’s value-creating economy
  • Singapore’s future value proposition: value creation
  • Implications for the future of Singapore’s tax incentive regime


Training Methodology

Lecture style, with Exercises/Case Studies.


Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate to Advanced level programme intended for: • Managing Directors • General Managers • CFOs • Regional Directors • Financial Controllers • Tax Professionals • Legal Professionals • Accountants • Financial Analysts • Business Consultants • Investors with vested interests in the Asia region

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

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

Registration is closed

Programme Facilitator(s)

Mr. Ho Kah Chuan

Date & Time

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

Registration is closed

Programme Facilitator(s)

Mr. Ho Kah Chuan

Date & Time

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

Registration is closed

Programme Facilitator(s)

Mr. Ho Kah Chuan

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 27 Jun 2021
Course Reference Number: TGS-2020501292

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 http://www.skillsfuture.sg/credit)

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 $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 2021
Funded Hours: 7 hours
Course Reference Number: TGS-2020501292

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”.
     

 

For course run start date before 1 Nov 2020, submit training grant application in SCN until 30 Nov 2020.

For course run start date on or after 1 Nov 2020, Enterprises/employers are NOT required to log into TPGateway/SCN to submit training grant.

Remarks

Step 2: After receiving email that the programme status is confirmed, please proceed to submit the Training Grant application via SkillsConnect Portal (https://www.skillsconnect.gov.sg/).

Employers of company-sponsored participants must submit training grant via SkillsConnect 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.

The employee’s enrolment, attendance and assessment recordswill be submitted by ISCA onto TPGateway.


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 members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2022. *This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2020 – 31 March 2021.
 
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)


Mr. Ho Kah Chuan
Director, ASEAN Incentives Advisory, KPMG in Singapore

 
Kah Chuan is a Tax Director with KPMG in Singapore and has amassed more than 15 years of experience in the areas of tax advisory, tax policy formulation, tax treaty negotiation, tax audit and compliance services.  Kah Chuan has assisted many multinationals and local enterprises in solving various tax issues, ranging from corporate tax, personal income tax, Goods and Services Tax, transfer pricing, stamp duty, property tax and customs.  His experience covers providing tax and incentive planning advice on tax-efficient supply chain management, intellectual property management, headquarters and treasury management, and manufacturing activities.  
 
Kah Chuan started his career with the Inland Revenue Authority of Singapore (IRAS), specialising in taxpayer audit and corporate tax compliance.  He was seconded to the Singapore Ministry of Finance to work on corporate and international tax reforms.  He is often valued for his work experience in the Singapore Economic Development Board (EDB) dealing with incentive and tax policy formulation matters.  He contributes many thought leadership articles on taxation and is a guest lecturer at National University of Singapore law faculty on international taxation law.

Programme Overview

This CPE course is conducted in association with KPMG.


Programme Objective

Tax has long been a tool to influence behaviour towards desirable economic goals. The fundamental principle of Singapore’s tax policy is to keep tax rates competitive so as to retain our position as an attractive and substantive investment hub. Despite already having one of the lowest corporate income tax rates in the world, currently at 17%, Singapore still offers a wide range of incentives to attract foreign investments. Generally, the tax incentives available are in the forms of either a tax exemption, reduced tax rate or tax allowance, subject to stringent qualifying conditions. In effect, these incentives help companies from a broad spectrum of industries lower their effective tax rates. However, in light of recent global tax development, Singapore’s tax incentive regime has come under public scrutiny and sparked debate on whether Singapore is a tax haven.
 
On completion of this programme, participants should be able to obtain an understanding of:
  • The tax incentive environment in Singapore, including summary data about the available incentive schemes and the broad requirements to qualify, and
  • Global tax developments and its implications on Singapore’s incentive policy.

Programme Outline

1.   Overview of Singapore’s tax incentive environment
  • Objectives of Singapore’s tax policy
  • Role of tax incentives
  • Underlying principles of tax incentives
2. Base Erosion and Profit Shifting (BEPS)
  • Overview of BEPS
  • Where does Singapore stand?
  • BEPS Action 5: Countering harmful tax practices more effectively
  • Is Singapore a preferential tax regime?
3. Key tax incentives in Singapore
  • Summary data about the available incentives schemes, its objective(s) and the broad requirements to qualify
  • How can my business benefit from tax incentives?
  • Case studies
4. Tax incentive related issues
  • Common administrative and accounting related problems during incentive period
  • Cost-benefit analysis for incentive application
  • Incentive compliance framework
5.  Tax incentive application process
  • Tax incentive application process
  • Importance of tax incentive negotiation
  • Common pitfalls to avoid during tax incentive negotiation
6.  Moving forward: Singapore’s value-creating economy
  • Singapore’s future value proposition: value creation
  • Implications for the future of Singapore’s tax incentive regime


Training Methodology

Lecture style, with Exercises/Case Studies.


Closing Date for Registration

1 week before programme or until full enrolment.

Intended For

An Intermediate to Advanced level programme intended for: • Managing Directors • General Managers • CFOs • Regional Directors • Financial Controllers • Tax Professionals • Legal Professionals • Accountants • Financial Analysts • Business Consultants • Investors with vested interests in the Asia region

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Mr. Ho Kah Chuan
Director, ASEAN Incentives Advisory, KPMG in Singapore

 
Kah Chuan is a Tax Director with KPMG in Singapore and has amassed more than 15 years of experience in the areas of tax advisory, tax policy formulation, tax treaty negotiation, tax audit and compliance services.  Kah Chuan has assisted many multinationals and local enterprises in solving various tax issues, ranging from corporate tax, personal income tax, Goods and Services Tax, transfer pricing, stamp duty, property tax and customs.  His experience covers providing tax and incentive planning advice on tax-efficient supply chain management, intellectual property management, headquarters and treasury management, and manufacturing activities.  
 
Kah Chuan started his career with the Inland Revenue Authority of Singapore (IRAS), specialising in taxpayer audit and corporate tax compliance.  He was seconded to the Singapore Ministry of Finance to work on corporate and international tax reforms.  He is often valued for his work experience in the Singapore Economic Development Board (EDB) dealing with incentive and tax policy formulation matters.  He contributes many thought leadership articles on taxation and is a guest lecturer at National University of Singapore law faculty on international taxation law.

Upcoming Schedule

Registration is closed

Date & Time

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

Fee (inclusive of GST)

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

Programme Facilitator(s)

Mr. Ho Kah Chuan

Venue

60 Cecil Street
ISCA House
Singapore 049709