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Tax Avoidance & Evasion


10 Apr 2019

Course Code:  MPM005
Time:  5.30pm - 6.30pm
Course Fees:  Complimentary (Members), $50 (Partners), $100 (Non-Members)
Venue: 

SMF BUILDING, LEVEL 1 (Room 1.5)
2985 JALAN BUKIT MERAH
SINGAPORE 159457

No. of CME points: 1 (Subject to SMC's approval)

Topic: Tax Avoidance & Evasion

Speaker: Edmund Leow, SC (Senior Partner, Dentons Rodyk)

Who should attend: Private practitioners, clinic owners and managers, clinic staff who manages clinic tax and corporate matters

Alternative approach on Tax avoidance arrangements

“Recently, IRAS has conducted numerous reviews of income declared by companies set up by doctors. In some cases, IRAS has even stated that a company’s income will be attributed to the doctor personally, as opposed to the company.

This presentation will discuss the appropriate test for tax avoidance in the context of the use of a company by a doctor. We will set out the key differences between tax evasion and tax avoidance, and explain the various limbs of the test for tax avoidance under Section 33 of the Income Tax Act (Cap. 134) (the “ITA”), including the meaning of ‘bona fide commercial reasons’. We will also seek to clarify queries arising from the concepts of ‘commercial substance’, ‘personal exertion’ and the ‘Functions, Assets and Risks’ test, which in our view have been inappropriately applied in the context of Section 33 ITA.”