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Tax Planning & Policy
Last Updated Date: 8 June 2023
5 Units, Semester 1
Course Description:
As the saying goes, the only two certainties in life are death and taxes. Tax permeates and affects all aspects of human and business conduct – shaping every deal and transaction, and influencing the setting up, financing, and operation of every business venture.
This foundational course focuses on the two most important taxes – income tax and GST (accounting for about ¾ of our total tax revenues). It will acquaint participants with a basic working knowledge of the most common tax issues faced by both businesses and individuals. The first part of the course focuses on GST, and how GST is imposed on an increasing number of platform transactions in our daily lives as well as on digital assets. The second part deals with the income tax implications of typical decisions in the lifecycle of a business. Issues examined include tax implications on sole proprietorship vs partnership vs company; how is offshore income taxed in Singapore; is debt or equity more tax efficient?; how to maximise deductions and allowances to minimise taxes?; when does tax planning become avoidance or evasion?; as well as common legal and evidential issues in tax litigation. Other topical issues include the economics of taxation, and the trends and reforms in international tax.
The course is particularly useful for those interested in commercial law, transactions, wealth planning, in-house advisory, and economic policy. No tax knowledge is assumed, and participants are not expected to make tax computations.
Course Convenor: A/P Phua Lye Huat, Stephen
Co-teacher(s): Adjunct As/P Kenneth Wang Ye
Course Codes: LL4056BV / LL5056BV / LL6056BV / LLJ5056BV
Contact Hours: 3-hr weekly Seminar
Workload: 3 hours
Mode of Assessment: Class Participation - 15% (oral participation, peer-to-peer contributions to Forum discussions on Canvas); MCQ test - 20%; A single sustained research paper or a combination of 2 mini research papers (totaling 4000 words) - 65% [Due: Wed, 15 Nov 2023 (3pm)]
Preclusions: Nil
Prerequisites: (a) NUS Compulsory Core Law Curriculum or common law equivalent. (b) Company Law (LC2008) or its equivalent in a developed common law jurisdiction
Examination Date: Different Mode of Examination
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