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 Wolters Kluwer will also discuss their implications on taxpayers and the tax landscape in Singapore.
A Highlight of Key Areas:
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.