Even as various new developments shake up the tax landscape, zero-rated supplies, transfer pricing and goods and service tax (GST) still continue to stir up a buzz among tax professionals. Boosting the accredited tax professionals towards tax excellence, the Singapore Institute of Accredited Tax Professionals (SIATP) organised the recent Tax Excellence Decoded (TED) sessions covering these topics.

Helming the session on zero-rated supplies, Accredited Tax Advisor (GST & Income Tax) Gan Hwee Leng, Indirect Tax Partner at KPMG Advisory LLP, plunged straight into the principles of zero rating and the provisions. Using case studies and scenarios to illustrate the key concepts, participants got into the nuts and bolts of zero-rated supplies and their interplay with reverse charge.

But GST was not the only issue that was covered. Adriana Calderon, Director at Transfer Pricing Solutions Asia, brought the accredited tax professionals on a trail to uncover the complexities of services transactions in transfer pricing. Benefit tests, cost-based analysis and non-chargeable activities, among others, were closely examined during the sesssion. She also held extensive discussion with the participants, ensuring that they fully grasped the key concepts.

It was a capacity-filled seminar facilitated by Accredited Tax Advisor (GST & Income Tax) Gan Hwee Leng, Indirect Tax Partner at KPMG Advisory LLP, on zero-rated supplies

Adriana Calderon, Director at Transfer Pricing Solutions Asia, illustrated the key concepts of services transactions with practical examples

Noelle Poh, Principal Tax Rulings Officer, IRAS, highlighted the recent updates in various GST e-Tax guides

Moving swiftly on to the second half of the year, accredited tax professionals also had a refresher on the various revised e-Tax guides and other perennial GST issues. Kicking off in early July, a S.U.R.E session was jointly organised with the Inland Revenue Authority of Singapore (IRAS), providing a platform to seek clarity, understand the guides, reaffirm understanding and enrich the tax profession. Participants had the opportunity to clear their doubts during the panel discussion with Accredited Tax Advisor (GST) Yap Mei Mei, Group Tax Specialist, GST Division – Large Business Branch, IRAS; Norhaizah Zainal, Manager, GST Division – General Branch, IRAS, and the rest of the IRAS team. A partner from one of the Big Four firms who attended the session had this to say, “The session was insightful. I encourage my team to attend such seminars organised by SIATP as there is always something new to learn – be it a technical tip, a best practice or simply a refresher on a blindspot that is often overlooked”.

These events ensured that tax professionals have a firm and accurate grasp of existing tax topics, enhancing their knowledge of the classics before ushering in the new.

If you, too, wish to learn something new to bring you closer towards the tax apex, email SIATP.