Withholding tax, a tax on payments made to non-residents including employees, business partners and overseas agents, is an area often overlooked by businesses. Gain an understanding of withholding tax and how it affects your business in the introductory 

 workshop that will shed light on the types of payments that are subject to withholding tax as well as the compliance requirements.

Who are non-resident companies and individuals (with COVID-19 updates)

Transactions that are subject to withholding tax

Applicable sections in Singapore Income Tax Act – treatments of payments of interest, royalties, service fees, etc.

Rights-based approach for characterising software payments and payments for the use of or the right to use information and digitised goods

Concept of Permanent Establishment (“PE”)

Various articles in a tax treaty (e.g. business profits, royalties and interest articles, etc.)

Claiming exemptions or reduced rates under the tax treaties

Withholding tax compliance and administration

Timing of withholding and payment to IRAS

Deductibility of withholding tax on interest borne by companies on behalf of non-residents

Tax clauses in agreements – tax gross up and tax indemnity clause

Case studies on application of withholding tax provisions

Withholding Tax - 50th Run

This workshop will shed light on the types of payments that are subject to withholding tax as well as the compliance requirements.

Mastering the Basic & Intermediate Concepts of GST

 workshop is designed to equip participants with the knowledge and understanding to effectively apply the concepts of GST into their area of work - including GST treatment for international services, exports, disbursement vs reimbursement, gifts/benefits-in-kind for staff and business associates and more - that will enable you to complete the GST F5 return correctly and accurately, and avoid costly penalties. It is also ideal for current finance/accounting staff as a refresher and an ideal platform to clarify their doubts.

Tax Invoice, Simplified Tax Invoices & Receipts

Correcting Mistakes in Import Declaration

Fringe Benefits - Update on Closed Nexus Test

Mastering the Basic & Intermediate Concepts of GST - 218th Run

This workshop is relevant to both newly and existing GST-registered businesses and to staff not familiar with proper GST taxation and treatment.

 workshop is crafted to help participants review the fundamentals of Singapore corporate tax concepts and mechanisms and learn to apply them successfully in their everyday business. Practical examples, illustrations and case studies will be used to enable participants to relate and apply to real-life tax situations.

By the end of this workshop, participants will :

Be aware of the major changes and topical points that have arisen over recent months;

Understand the key features of the Singapore tax system; and

Be able to take an active stance in planning taxation so that it becomes a reasonable expense to the company, rather than an unreasonable burden.

Singapore sourced vs foreign sourced income

General deduction provisions under the Singapore Income Tax Act 1947 (e.g. medical expenses and motor car expenses)

Specific deduction provisions under the Singapore Income Tax Act 1947 (e.g. interest expenses and Renovation & Refurbishment expenditure)

Writing down allowances for Intellectual Property Rights

4. Unabsorbed tax losses and capital allowances

7. Statutory incentives under Singapore Income Tax Act 1947

Under Economic Expansion Incentives (Relief from Income Tax) Act 1967

12. Tax planning tips to reduce corporate tax

Fundamentals of Corporate Tax - 76th Run

This workshop is crafted to help you review the fundamentals of Singapore corporate tax concepts & learn to apply them successfully in your business.

With effect from 1 January 2020, GST-registered businesses in Singapore can zero-rate their supply of services only if it falls within the description of international services under Section 21(3) of the GST Act.

Depending on the nature of your services, you may be required to determine your customer's belonging status (i.e. whether the customer is a local or an overseas entity) before your supply of services can be zero-rated. Your supply of goods can be zero-rated when you are certain that at the point of supply (based on the time of supply for exports) :

The goods supplied will be exported or have been exported; and

You have the required documents to support zero-rating.

This workshop by TAKX Solutions is designed to equip participants with the knowledge on when to zero-rate their supply of services and goods. At the end of this workshop, you will be able to determine whether your service qualifies as an international service and can thus be zero-rated. You will also be able to determine whether your export sales can be zero-rated and what supporting export documents should be maintained.

Zero-Rating for International Services* under Section 21(3)(a) to (y) of the GST Act

Latest Changes to International Services* with effect from 1 January 2020

Zero-Rating for Goods that are exported out of Singapore together with supporting export documents

Businesses that provide Consultancy, Management, Engineering or Training services

Inter-company billing of services to overseas subsidiaries

Exhibition or Convention Services held in Singapore and Outside of Singapore

GST: Zero-Rating for International Services & Exports - 17th Run

This workshop is designed to help participants understand when to zero-rate their supply of goods and services.

Do you engage in transactions with related parties, i.e. companies within your Group, be it sister companies, associated companies or subsidiaries? If so, you will need to be aware of the recent changes in the transfer pricing regulations in Singapore as well as across the region. Transfer pricing refers to the pricing of goods/services/assets and/or funds when they are transferred within a Group. The 

 workshop is designed to arm participants with an understanding of transfer pricing as well as transfer pricing compliance in various Asia Pacific countries. In addition, a discussion of the various transfer pricing methods and their application, as well as the transfer pricing regime in Singapore will be presented.

Introduction to OECD Guidelines on Transfer Pricing

An Overview of Various Transfer Pricing Methods, their Application and Case Studies

An Overview of Singapore's Transfer Pricing Regime

Preparation of Transfer Pricing Documentation

Defending Transfer Pricing Audits in Singapore

Introduction to Transfer Pricing - 48th Run

This workshop is designed to arm participants with an understanding of transfer pricing as well as transfer pricing compliance.

Transfer pricing is a rapidly evolving area of taxation that demands attention from both tax authorities and business leaders. With the challenges of satisfying multiple jurisdictions and managing transfer pricing risks becoming increasingly complex, practical strategies are crucial for success.

Join us in this workshop as we delve into real-life case studies to share practical knowledge on managing transfer pricing in Singapore and the Asia Pacific region. You will learn:

How operational transfer pricing and policies can effectively mitigate risks

Recent developments in Asia and their implications for businesses

The impact of Base Erosion and Profit Shifting (BEPS) on the management of transfer pricing, as well as practical strategies to navigate the changing landscape

How to equip yourself with the tools and techniques needed to manage transfer pricing exposure, ensure compliance and optimise your transfer pricing strategies in Asia

Key aspects of operational transfer pricing

High-risk transactions and how to manage them in the region

The role of TP policies and documentation in minimising risks

Pros and cons of centralised and decentralised TP documentation

Developments in Asia, overview of TP Risk profile by country

BEPS developments and impact on managing transfer pricing

Risk exposures that can trigger TP reviews and audits

Common areas of dispute with tax authorities

How can companies prepare for reviews and audits?

Managing Transfer Pricing in Asia - 3rd Run

Join us in this workshop as we delve into real-life case studies to share practical knowledge on managing transfer pricing in Singapore and the Asia Pacific region.

Date:	Friday, 16 Aug 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)

Date:	Wednesday, 21 Aug 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)

Date:	Tuesday, 27 Aug 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)

Date:	Friday, 13 Sep 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)

Date:	Wednesday, 23 Oct 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)

Date:	Wednesday, 6 Nov 2024
Time:	01:00 AM - 09:00 AM
Venue:	Carlton Hotel, 76 Bras Basah Road, S(189558)
Fees:	$398 nett per participant (inclusive of course materials, e-certificate, lunch, tea breaks & refreshments)