Executive Tax Programme Level I (Income Tax Individual) Tax Academy Singapore
Price: AED 2,806

    Course details

    This module provides basic knowledge in income tax principles and practice. The module will be delivered through a combination of lectures, discussions and practical cases to reinforce participants' understanding of the basic income tax principles and concepts.

    Key Topics Covered:

    • Overview of Singapore Tax Regime
    • Taxability of various types of income
    • Distinction between income and capital receipts
    • General principles governing the deduction of an expense
    • Conditions for claiming any personal reliefs, donations or expenses
    • Computation of the income tax liability of an inpidual 

    Module Outline

    Overview of Singapore Tax Regime

    • Introduction to public finance in Singapore
    • Policy formulation process
    • Taxation in Singapore: History & Policy
    • Introduction to Various Taxes in Singapore
    • Role of Ministry of Finance and Inland Revenue Authority of Singapore
    • Trends in Administration
    • Challenges Ahead

    Arrangement and Administration of the Income Tax Act & Definition of Terms

    • Construing of Taxing Act
    • Arrangements of Sections of the Income Tax Act
    • Administration of the Income Tax Act
    • Residence of an inpidual

    Scope of Charge

    • Income Chargeable to Tax
    • What is "Income"?
    • When is "Income derived"?
    • Where is income derived from?

    General Deduction Formula

    • Section 15(1) Prohibitions
    • Section 14(1)

    Taxation of Employment Income - Section 10(1)(b), and Related Exemptions and Deductions

    • Tax treatment of employment remuneration, benefits-in-kind and employment related payments
    • Exempt employment income
    • Gains or profits from share option schemes
    • Assessment of special categories of employees
    • Deductions against employment income 

    Taxation of Other Income - Section 10(1)(d) to Section 10(1)(g) and Related Exemptions and Deductions

    • pidend, Interest, Discounts, Pension, Charge, Annuity
    • Deduction of Expenses against pidends and Interest
    • Tax Exemption on discount income from debt securities
    • Rents, Premiums and Any Other Profits arising from Property
    • Deductions from Property Income
    • Royalties, Rent from Movable Properties and Fees
    • Deductions - Income from movable properties

    Deductions under Section 37

    • Gifts to approved museums, the Government, institutions of a public character and prescribed educational or research institution in Singapore [Section 37(3)(b) to (3)(e)].
    • Donations of Parcels of Land and Buildings
    • Granting of Tax Deduction for Donations
    • Granting of Double Tax Deduction for Donations
    • Allowing the Carry Forward of Unutilised Tax Deduction for Donations to IPC – Section 37(8)

    Personal Reliefs and Tax Rebate

    • Conditions for claiming various types of personal reliefs and tax rebates.

    Computation of income tax liability of an inpidual

    • Case studies

    Note: Participants are required to bring along their calculators for this session 

    Examination* 

    Participants will take a written examination after which they would be awarded a certificate of achievement with a grading. Participants sponsored by our corporate partners can check with the Tax Academy office if they are required to take the examination. 

    Updated on 08 November, 2015

    About Tax Academy Singapore

    The mission of Tax Academy of Singapore is to raise the professional competency of the tax community in Singapore and develop Singapore into a regional tax knowledge hub. A not-for-profit institution, the Tax Academy is set up by the Inland Revenue Authority of Singapore in collaboration with the international accounting firms, Deloitte & Touche, Ernst & Young, KPMG, PricewaterhouseCoopers, as well as the Institute of Singapore Chartered Accountants and the Law Society of Singapore. he Tax Academy of Singapore shall raise the professional competency of the tax community and develop our standing as a leading centre in taxation and regional tax knowledge hub.

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