CCH Learning SEA

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Description

This practical and timely workshop is designed to give you a practical and concise update on the recent changes and developments in the Singapore Tax Landscape. The Trainer will share how businesses can take advantage of the new tax measures.

Several important and contentious tax decisions were handed down in the past 12 months, and we will also discuss their implications on taxpayers and the tax landscape in Singapore.

Programme Outline

Budget 2023 updates

Recent Case Law Updates and their Tax Implications for Businesses

  • Comptroller of GST v Dynamac Enterprise
    • Whether Board made fundamental error of law
    • Whether Board had jurisdiction to determine applicable export evidence
    • Whether Specific Directions or IRAS e-tax guide entitled “GST: Guide on Exports” contained applicable export evidence requirements required by Comptroller
  • GEV v Comptroller of GST
    • When a supply includes non-monetary consideration for GST purposes
  • GEY v Comptroller of Income Tax
    • Concept of Capital Allowance
    • What is a plant or building/ structure for the purposes of claiming capital allowances

Relevant amendments to the Income Tax Act 2022

Enterprise Innovation Scheme

R&D Tax Measures

Case law on R&D

  • Intevac Asia Pte Ltd v Comptroller of Income Tax
    • Tax deductions on research and development (“R&D”) expenses incurred under a cost-sharing agreement.

What you will learn

  • Stay Abreast of the recent changes and updates in the Singapore Tax Landscape
  • Have an understanding and appreciation on how the recent case law decisions can impact your businesses

Target Audience

  • Business owners
  • Directors
  • Finance Managers
  • Tax Professionals
  • Anyone interested in getting a concise and practical update in the Singapore Tax Landscape

Expert Speaker

Chris Loh

Chris Loh has sixteen years of tax experience, six of which were spent in one of the Big Four where he was part of the financial services tax team specialising in insurance, banking and capital markets and asset management. He has assisted various financial services clients in their tax compliance matters and dealing with MAS and IRAS on various tax compliance matters.

Chris is proficient in assisting his clients in the application for tax incentives with relevant bodies and has also provided tax advice including fund structuring, cross border transactions and the like. His clients range from MNCs to SMEs in various industries including asset management, shipping, manufacturing, legal and construction. In addition to providing regular tax compliance services, helping clients with their incentive and Advance Ruling applications, and advising on cross-border transactions, he has also been heavily involved in advising on the re-structuring of family-owned businesses.

Chris has a Master of Taxation and serves as an adjunct for the undergraduate tax course in UniSIM. He also has a double degree in accountancy and business management from the Singapore Management University.

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