Singapore Tax Law Cases PDF

Tax Law Cases **Income Tax:** *What is chargeable to tax* ∀ *Comptroller of Income Tax v HY* \[2006\] 2 SLR(R) 405 ∀ *NP and another v Comptroller of Income Tax* \[2007\] 4 SLR(R) 599 A*BD Pte Ltd v Comptroller of Income Tax* \[2010\] 3 SLR 609 ∀ *Comptroller of Income Tax v BBO* \[2014\] 2 S...

Tax Law Cases **Income Tax:** *What is chargeable to tax* ∀ *Comptroller of Income Tax v HY* \[2006\] 2 SLR(R) 405 ∀ *NP and another v Comptroller of Income Tax* \[2007\] 4 SLR(R) 599 A*BD Pte Ltd v Comptroller of Income Tax* \[2010\] 3 SLR 609 ∀ *Comptroller of Income Tax v BBO* \[2014\] 2 SLR 609 *Deduction and expenses* ∀ *Comptroller of Income Tax v IA* \[2006\] 4 SLR(R) 161 ∀ *JD Ltd v Comptroller of Income Tax* \[2006\] 1 SLR(R) 484 ∀ *ABD Pte Ltd v Comptroller of Income Tax* \[2010\] 3 SLR 609 ∀ *BFC v Comptroller of Income Tax* \[2014\] 4 SLR 33 *Capital Allowance* ∀ *ZF v Comptroller of Income Tax* \[2011\] 1 SLR 1044 ∀ *Singapore Cement Manufacturing Co (Pte) Ltd v Comptroller of Income Tax* \[2023\] SGHC 57 **GST:** ∀ *Herbalife International Singapore Pte Ltd v Comptroller of Goods and Services Tax* \[2023\] SGHC 54 **Stamp Duty:** ∀ *Clifford Development Pte Ltd v Commissioner of Stamp Duties* \[2009\] 3 SLR(R) 363 **Miscellaneous:** ∀ *ACC v Comptroller of Income Tax* \[2011\] 1 SLR 1217 *Zhao Hui Fang v Commissioner of Stamp Duties* \[2017\] 4 SLR 945 CIT and GST Tax framework for companies: what is chargeable to tax, expenses, capital allowances Chargeable income - 17% s10 ITA -Income derived from Singapore or received in Singapore from outside Singapore Singapore\'s income is charged to tax r**[egardless of receipt]**. broad guiding principle is to **[focus on what the taxpayer had done, which earned him the gains of profits in question]**, and then to identify the location where those activities that he had engaged or work he had done in place. And there\'s a reference location. Income v capital Factors considered in determining capital Non-chargeable income s10(25) ITA Foreign Source income non-taxable Dividend from a subsidiary Deductions s14 ITA Was the outgoing incurred wholly and exclusively for the production of income? subject to prohibitions? under s15(1) ITA (e.g. bad debts) Deductible capital allowance - plant and machinery Table for permitted claims Section 19A provides for allowances for machinery or plant on an **[accelerated basis]** (i.e., over three years). Such allowances are made in lieu of the allowances under Section 19. Non-deductible Capital expenditure is not deductible Goods and Services Tax 9% from 1 Jan 2024 scope of s8 GSTA Requirements Difference between zero rated supply and GST exemption Complusory registration if \> 1MIL Voluntary registration Two GST regimes applicable to **[imported services]** Overseas Vendor Registration Reverse Charge regime Share and asset sale, Acquisition of IP **[ Share sale and asset sale tax implications]** Tax implications for the transferor Tax exemption under section 13W of the ITA Carry over of capital allowances ("CA") -- section 23 of the ITA **[s23 ITA]** Same Business test (**[Applies despite exemption under substantial shareholding test]**) **[s23(4) ITA]** Substantially shareholding test Exemption by Minister Carry over of unutilised losses / donations -- section 37 of the ITA **[Stamp duty implications]** What is charagble property? First schedule to the Stamp Duty Act **[When]** is it payable? Transfer of shares **[Additional Conveyance Duty]** (\"ACD\") - are Singapore residential property being held? Sale of IP; tax treatment of royalties Tax due diligence What do we look for? Review of tax positions taken in tax returns Identify potential tax exposure / risk Implications Tax warranties Tax Indemnities Other considerations M&A options Asset / Business sale Transfer of trading stock (Share) Transfer of capital assets Acquisition of intellectual property Withholding Tax - Royalties Who pays? Corporate Restructurings Restructuring options Share sale Asset sale a\. Option 1: Liquidation Tax consequences - Loss of tax attributes forever b\. Option 2: Striking-off Tax consequences Corporate **[amalgamations]** (**[s34C Stamp Duty Act]**) Key advantage of **[s34C Stamp Duty Act Election]** GST implications Stamp duty implications **[s32C Stamp Duty Act]** Stamp Duty relief **[s15(1) Stamp Duties Act]** Background Timeline / process Applicability of relief rules Borrowing costs; withholding tax and deductibility of interest expenses **[Deduction]** under **[s14(1)(a) ITA]** The **[Direct Link test]** Interaction between **[s14(1)(a) ITA]** and **[s15 prohibition]** Withholding tax implications Stamp duty; exemptions