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overview
Key Learning Outcomes
- Legislation updates in shipping tax (Singapore and regional)
- Tax structuring and planning for global optimization
- Risks of permanent establishments
- Implications of IFRS 9, 15 and 16 in shipping businesses – case studies • Best practices in withholding tax exemption applications for shipping industry
- Exercises: Minimising your tax bills
- Foreign tax exposure in cross-border transactions
- DTA policies
- Manage compliance effectively with better understanding of international standards
- Practical techniques for identifying, managing, analysing, prioritising and mitigating tax risks
- Tax optimisation, legal updates and resolutions
Who Should Attend?
Tax accountants, auditors, financial controllers, finance manager, policy & compliance managers and partners from
- Ocean-going vessel owners and operators
- Harbour craft, Tug and barge industry
- Port & ship agencies
- Tax & Auditing agencies
- Tax law advisory services
What Attendees Like About Our Maritime Courses
“This 2-day programme covered a broad range of tax issues. Trainer is knowledgeable and offered a lot of valuable tax accounting and business restructuring advice”
– Alison Glover, Head – Finance, AET Tankers
“Practical and hands-on course, good tools and techniques provided on tax risk management”
– Gene Kwee, Partner, Mazars LLP
“A good event specifically for our industry. It summarises the upcoming tax changes impacting the sector”
– Laurent Tarrieu, Managing Director, BNP Paribas
Trainer
Sally Sim (EMBA, FCCA, CA, CAP)
Principal Consultant, Asian Professional Consultancy
An international expert in the shipping industry, Sally had spent 26 years experiencing a wide range of senior management roles responsible for Financial Control, Tax Planning, Restructuring & Internal Control, as well as Risks & Crisis Management, Business Transformation and Automated Process Project Management. She has led numerous multi-cultural teams across more than 30 countries in Asia, Australia/Oceania, Middle East, Egypt and Africa.
Sally is presently the Principal Consultant at Asian Professional Consultancy (APC), specialised in Maritime & Shipping, Logistics, Healthcare, Hospitality and Automotive industries. Prior to setting up APC, she’d been Regional Deputy General Manager after 24 years at Hanjin Shipping leading the Accounts, Finance Tax for Southeast & West Asia region (more than 30 countries) and, Vice President of Finance for Asia Pacific at Inchcape Shipping Services where she led financial controls and managed business risks and tax risk exposures. She turned around the region as top performing region in entire business group in business growth, revenue, EBITDA, cash flow contribution, business efficiencies and resources optimisation.
Sally trains and consults clients from various industries on:
- Corporate Tax and Advisory: Due diligence and health check, tax efficient corporate structures advisory, cross-border transactions, tax filing, tax planning global tax optimisation
- Shared CFO Services: Cash flow strategies and optimisation, business strategising & positioning to maximise revenue and optimise EBITDA margins, business efficiencies and resources optimisation
- Accounting Services
- Business Transformation: Corporate reorganisation, Finance System review and implementation; Feasibility Assessment.
- M&A: Structuring, evaluation and executing M&A, joint ventures, alliances and agencies, company valuation, investment appraisals, financial analysis, due diligence checks and investigation, sales & purchase contracts
- Pricing Management & Strategies: Market Share & Financial Goals analyses, Consumer purchase behaviour intelligence, pricing analytics, pricing models development
- Digital transformation: Business process analysis and system integration (ERP, SAP, etc), automation (AI, RPA, mobile devices transmission, image capturing, etc)
- Business Analytics: smart optimisation of data analytics for business, HR, customers, operations & accounts/finance
Digital Badge
Upon completion of this training course, participants will earn a digital badge.
Earner of Shipping & Marine Taxation Certificates have acquired advanced-level understanding in tax structuring for global optimisation. They are proficient in latest tax regime in the region, including income & freight tax, chartering income, withholding tax exemption, GST & VAT as well as select DTA policy. Their skills also include scrutiny over cross-border M&As, best practices in minimising tax bills.
Skills:
legislation, shipping tax, income tax, freight tax, chartering income, withholding tax exemption, global optimisation, IFRS, cross-borer, M&A, VAT, GST, tonnage tax, tax structuring, tax bills, tax optimisation.
Eligibility:
Attend and participate in the 2 full days of training course duration, led by the designated training expert
Available to:
Seminar attendees
Singapore MCF Grant
You may be eligible for the Singapore Maritime Cluster Fund (MCF) Grant for up to 50% of the total course fee. Please contact Sushil Kunwar on +65 6989 6614 or email [email protected] for more information and eligibility criteria.
Agenda
TAXATION STRUCTURE IN SHIPPING ORGANISATION
- Shipping industry supply chain, different purpose vessels
- Tax structures of shipping groups
- Operational risks in shipping, bunkering and related activities and tax implications
RELEVANT LEGISLATIONS TO SHIPPING TAX (SINGAPORE)
- Risks of permanent establishment
- Differentiation of taxation regimes
- The reach of taxation and deductions rights
- Deeming provisions of the legislation
- Concept of withholding tax and its applicability in international shipping
- Taxation of shipping business income in Singapore
- Related party transactions
SHIPPING TAXATION UPDATES (REGIONAL)
- Income and freight tax
- Chartering income
- Withholding tax exemption Asia
- Impacts on business structure
- VAT & GST in Shipping
- Tonnage tax classification
APPLICATIONS FOR WITHHOLDING TAX EXEMPTIONS & INCOME TAX CONCESSIONS – BEST PRACTICES
- Tax incentives in Singapore for shipping
- Case studies and restrictions MSI-SRS enhancements – 2018, 2019
- MSI AIS – Approved International Shipping Enterprise, chartering income
- MSI-ML – Maritime Leasing Award
- MSI -SS – Support services
- Double tax deduction for international expansion
- Other reliefs & incentives in the region applicable for Shipping businesses
TAX ACCOUNTING FOR GLOBAL OPTIMISATION
- Minimising the tax bills – exercise
- Overview on IFRS 9, 15 and 16 in shipping
- Remedial actions
- Recommendations for reviews
- Taxation of shipping pools
INTERNATIONAL TAXATION IN SHIPPING
- Foreign tax exposures in cross border transactions
- Role of tax treaties
- Treatment of shipping income in tax treaties
- The OECD and actions against base erosion through profit shifting
- Preparing for the future and the changing landscape
- Singapore DTA policy
- Selective Asia’s DTA policies (Country-specific examples)
- Tonnage tax scheme
TAXATION OF CROSS-BORDER M&AS
- Purchase of shipping assets versus disposal gains
- Purchase price and transfer value
TAX OPTIMISATION, LEGAL DISPUTES & RESOLUTIONS
- Transfer pricing dispute resolution
- Legal Disputes & Resolutions
when & where
26 - 27 Sep 2019
Mandarin Orchard Singapore, by Meritus
333 Orchard Road, Singapore 238867
Tel: +65 6831 6062 | Fax: +65 6737 3130
Mobile No.: +65 8298 9442
Contact Person: Tan Ai Li
Email: [email protected]
Website: www.meritushotels.com
On-site & in-house training
Deliver this course how you want, where you want, when you want – and save up to 40%! 8+ employees seeking training on the same topic?
Talk to us about an on-site/in-house & customised solution.