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Description
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Withholding tax is a mechanism to collect income tax from certain groups of non-residents and is an area often overlooked by businesses. With the rise of cross border transactions, it is therefore important for businesses to understand the practical application of withholding tax to avoid penalties and minimise their tax burden.
This programme is designed specifically to give Accounting and Tax Professionals a practical knowledge of withholding tax. You will also learn about the concept of permanent establishment and gain a basic understanding of some articles in tax treaty. Personnel involved in tax compliance of the company and project costing will also find the workshop useful.
Programme Outline
Overview of withholding tax system
Taxation of non-residents
Income deemed sourced in Singapore
Types of income subject to withholding tax
Exemptions and remissions
Withholding tax rates under domestic laws and tax treaties
Concept of permanent establishment
Claiming reduced rates or exemption under tax treaties
Withholding tax compliance and administration
- Timing of withholding
- Calculations
- Withholding tax forms
- Penalties for non-compliance
- Voluntary disclosure
Minimising withholding tax risks
Expert Speaker
Ng Wei Pheng
Wei Pheng has more than 25 years of tax experience, including many years in Big Four accounting firms, advising on corporate restructuring and tax planning involving transactions with cross national boundaries.
Wei Pheng has assisted investors on tax due diligence reviews and tax structuring for local and overseas acquisitions, and has provided tax advice to, and assisted in, IPO projects. She has also been involved in several requests for tax rulings and represented clients in dispute resolutions before the tax authorities.
Wei Pheng is an Accredited Tax Advisor (ATA) with the Singapore Institute of Accredited Tax Professionals.
This is a face-to-face event, to be conducted on 17 December 2020.