International Tax Programme Level I Tax Academy Singapore
Price: SGD 695

    Course details

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

    Outline

    1. Basic Concepts in Tax Treaty

    • Introduction
    • What is a tax treaty?
    • Objective of a tax treaty
    • Concepts on juridical and economic double taxation
    • Interaction between domestic law and tax treaty, including concepts of tax residence, taxing rights and sharing of taxing rights between jurisdiction

    Standard Treaty Model

    • How is a treaty structured
    • OECD model and UN model (introduction)

    Key Articles and Terms

    • Scope of treaty – Persons covered and taxes covered
    • Definitions – resident and permanent establishments
    • Taxation of Income : Business profits, pidends, interest & royalties, capital gains, income from employment, Directors’ fees, Artistes and sportsmen, pensions, government service etc
    • Methods of elimination of double taxation

    2. Basic Treaty Application

    Concept of withholding tax

    Illustrations on the interaction of treaties and domestic tax rules

    • Business Profits
    • Interest, pidends & royalties
    • Employment income
    • Foreign tax credit

    3.Basic Concepts in Transfer Pricing (TP)

    Introduction to Transfer Pricing and TP methods

    • Key concepts
    • Arm’s Length Principle
    • Comparative analysis 

    Methods

    • Overview of methods
    • Strength and weakness of each method
    • Practical examples

    Documentation

    • What is documentation and why is there a need for TP documentation
    • Concept of contemporaneous documentation
    • What are the common consequences of lack of TP documentation

    Disputes and risk management

    • TP audits and risk management
    • TP adjustments
    • Dispute resolution (an introduction)

    4. Singapore Transfer Pricing Guidelines

    • Background of Singapore TP Guidelines

    Reference to E-tax guides issued

    Alignment with OECD TP guidelines

    • Related party lending and routine services 5% safe-harbour
    • Revised Documentation guidance

    5.IRAS Transfer Pricing Consultation (TPC) Program

    6.Future Developments

    • Basic introduction to Base Erosion and Profit Shifting (BEPS) 
    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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