China and India, two of Asia’s largest economies, have increasingly become a choice investment destination for Singaporean businesses. Singapore’s foreign direct investment into India in the Indian financial year ending 31 March 2019 was the highest among any other nation, while China has emerged in recent years as the top investment destination for Singapore’s foreign direct investment.
With an ever-growing interest among Singaporean companies to venture into these regional markets, it is becoming imperative for companies in Singapore - whether they already have a presence in China/India, or are considering to do so in the future - to understand the developing tax landscape in these countries to effectively manage their compliance risks and their post-tax returns on investment.
Our tax leaders from China and India addressed the following:
Corporate Tax Considerations for Singapore companies doing business in China or India without a legal presence when it:
Key Considerations for Singapore companies that have a legal presence in China or India
Senior Tax Partner
Peter Chen has over 15 years of experience in Chinese business and tax advisory and is well-versed with the tax environment in mainland China. Peter has been involved in providing company set-up, tax and business management advisory and services to both domestic and multinational companies. Peter also has rich experience in the field of enterprise mergers and acquisitions as well as providing tax due diligence and health checks for various enterprises invested in China.
V. Raghavendran leads Crowe India’s Tax and Transfer Pricing practice with over 35 years of professional experience. He has substantial experience in Indian taxation matters and specialises in structuring cross-border transactions, covering double taxation avoidance agreements, Indian transfer pricing rules and Foreign Exchange rules. He also specialises in structuring taxation for expatriate employees and provides tax advice & consultancy relating to foreign nationals and non-residents on Indian tax laws.
The global tax system as we know is at the brink of a massive change brought about by the efforts and campaigns of the OECD, EU, IMF and the G20 countries in dealing with the challenges of taxing the digital economy.
What started out as a project to tackle the revenue loss from base erosion and profit shifting has morphed into defining new rules for determining the taxing rights on income generated from cross-border business activities in the digital economy. This has led to some countries not only revising their traditional tax rules but also unilaterally changing their interpretation of the application of certain clauses of bi-lateral tax treaties. This has created tax uncertainties for companies operating across regions.
In this panel session, our tax experts discussed the global tax disruptors and how companies can make sense of the continually evolving issues & manage their risks.
Sivakumar is the head of tax at Crowe Singapore with over 22 years of experience in tax compliance and tax consultancy work for individuals, local corporations, public-listed companies, multinationals and financial institutions. Siva has conducted numerous seminars and workshops to tax professionals in corporations. He is a much sought-after speaker in areas such as withholding tax, permanent establishment, interpretation of tax treaties and employee taxation.