Income Tax Treatment on Foreign-Sourced Income
03 December 2020, Thursday
60 Cecil Street, ISCA House, Singapore 049709
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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.
- 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
About the Presenter(s)/ Trainer(s)
Ms A. GeethaCA (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.
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