Income Tax Treatment on Foreign-Sourced Income (Live Webinar)

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 13 (7A) to 13 (11) 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