Course Description

Synopsis:

Withholding tax is often not well understood by businesses and companies. It is one of the tax collection mechanisms of the Inland Revenue Authority of Singapore (“IRAS”) where the obligation lies with the payer. Therefore, it is important that businesses and companies gain a good understanding of the topic to manage the risks relating to withholding tax compliance.

This e-learning module aims to provide the audience with an overview and fundamentals of withholding tax and an understanding of the commonly seen payments incurred by businesses and companies which are subject to withholding tax as well as the associated statutory compliance requirements. The module also offers examples of practical issues faced by businesses and companies in dealing with withholding tax issues.

This session covers: 

1. What is withholding tax?
2. Deemed source rules
3. Types of payment and rates
4. Filing and reporting requirements
5. Voluntary Disclosure Programme to apply for reduced penalties
6. Examples of practical issues to consider

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Intended For:

• Audit Professionals / PAIP 
• Finance Professionals  / PAIB
• Public Sector Finance 
• C-suite & Directors
• Business Owners

All target audience groups as mentioned above should gain a level of understanding of withholding tax as it is a key tax risk area. Business owners who need to know more about withholding tax obligations for their businesses in Singapore will also find the e-learning content relevant.

Competency Mapping: 

• CPE Category "Others" = 1.0 CPE Hour