The Inland Revenue Authority of Singapore (IRAS) has revised the e-Tax Guide “GST: Fringe Benefits” on 16 May 2016 and introduced the “Close Nexus Test” in this revised Guide. Fringe benefits provided by businesses to employees will now be treated as incurred for the purpose of business only if they have a close nexus to the business activities (“Close Nexus Test”). Understanding the “Close Nexus Test” is, therefore, critical in determining whether the businesses have correctly claimed GST on fringe benefits and whether output tax has been correctly accounted for on the free use of business assets (if any).
Our GST specialist team in BDO Tax Advisory Pte Ltd is pleased to invite you to a complimentary briefing on the six key indicators of the “Close Nexus Test”. We will also share with you on how the six key indicators can be applied to fringe benefits commonly provided by businesses to the employees and how you can mitigate the risk of applying incorrect GST treatment on common fringe benefits.
Date: Monday, 12 December 2016
Time: 4 pm to 5.30 pm
Venue: Nanyang Room, BDO Tax Advisory Pte Ltd, 600 North Bridge Road, #17-01 Parkview Square, Singapore 188778
Who should attend: Financial managers, accountants and accounting staff involved in the processing of staff claims, staff benefits or in the preparation of GST returns.
Fee: Complimentary (limited to two persons per organisation)
Note:
The organiser reserves the right to change the venue, date and programme due to circumstances outside our control. Registration is on a first-come first-served basis and you will be inform via email (nearer the event date) when your registration is confirmed. Actual time and duration may differ slightly.