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Prepared for Plug-In@Blk71 
As of November 2014 
FILING COMPANY TAX AND PIC CLAIMS: INTERMEDIATE
www.futurebooks.com 
LAUNCH YOUR BIG IDEA
www.futurebooks.com 
SPONSORS
www.futurebooks.com 
Tax planning basics-from a company formation stage 
PIC: 60% cash payoutvs. 400% tax deduction 
Income tax computation from annual financial statements 
WHAT WE WILL COVER
TAX PLANNINGBASICS: COMPANY FORMATION
www.futurebooks.com 
DIRECTORS’ 
REMUNERATION 
VS. DIVIDENDS
www.futurebooks.com 
Directors’ remuneration 
Dividends 
Revenue 
1,000,000 
1,000,000 
Less: General expenses 
450,000 
450,000 
Less: Directors' remuneration 
250,000 
- 
Net Profit 
300,000 
550,000 
Tax Exemption (Start-ups) 
(200,000) 
(200,000) 
Profit after exemption 
100,000 
350,000 
Tax @ 17% 
17,000 
59,500 
Profit after tax 
83,000 
290,500 
Personal tax @ 18% 
29,750 
- 
DIRECTORS’ REMUNERATION 
VS. DIVIDENDS 
A majority shareholder and director of the company is making a decision on 
whether to receive money by way of a remuneration or dividends.
www.futurebooks.com 
PRIVATE CAR 
EXPENSES
TAX PLANNING BASICS: TAX FILING
www.futurebooks.com 
DEVELOPMENT 
COSTS: 
SOFTWARE, WEBSITE
www.futurebooks.com 
MEDICAL CARE 
EXPENSES
www.futurebooks.com 
RECOGNIZING 
REVENUE ON LONG- 
TERM CONTRACTS
www.futurebooks.com 
DEPRECIATION VS. 
CAPITAL ALLOWANCES
PIC CLAIMSOPTIMIZATION
www.futurebooks.com 
PRODUCTIVITY & 
INNOVATION SCHEME 
PIC CASH BACK 
PIC TAX ALLOWANCE 
PIC BONUS 
PIC + 
•Up to S$ 100,000 in 6 qualifying activities 
•3 local employees 
•Active business operations 
Year of Assessment 2013-15 
•Cash bonus up to S$ 15,000 
•3 local employees 
•Active business operations 
•Minimum S$ 5,000 
•400% tax deductions 
•S$ 400,000 / activity / year 
•Claim directly in the income tax return 
Year of Assessment 2015-18 
•Up to S$ 600,000 on six qualifying activities instead of S$ 400,000
www.futurebooks.com 
PIC SCHEME: OPTIMIZATION 
Profit? 
Cashflow? 
Tax deduction or cashback?
www.futurebooks.com 
ABC Pte Ltd has net profits of 1 million dollars. 
Two servers worth of 50,000 dollars each were purchased during its financial year. 
The company is still enjoying startup partial tax exemption. 
PIC SCHEME: SCENARIO
www.futurebooks.com 
PIC SCHEME: OPTIMIZATION 
60% cash payout 
400% tax deduction 
Net profit 
1,000,000 
1,000,000 
Server expenses 
100,000 
(100,000) 
Less: 300% enhanced deduction 
0 
(300,000) 
Profit before tax 
1,100,000 
600,000 
Less: Partial tax exemption 
(152,500) 
(152,500) 
Net profit before tax 
947,500 
447,500 
Tax @ 17% 
161,075 
76,075
INCOME TAX COMPUTATION
www.futurebooks.com 
INCOME TAX COMPUTATION 
Requested by the Inland Revenue Authority of Singapore (IRAS) in addition to Form C / C-S 
Referred to by stakeholders, e.g. investors, accountants and auditors, in the future years during due diligence 
Starting point is Profit and Loss statement 
P&L
www.futurebooks.com 
TAX COMPUTATION
www.futurebooks.com 
INCOME TAX FILING 
Estimated Chargeable Income (ECI) filing – 3 months from financial year end 
Corporate tax filing (Form C / C-S) – ensuing 30 November 
Extended deadline for online filing – ensuing 15 December
TAX PLANNING: ADDITIONAL TIPS
www.futurebooks.com 
FOREIGN 
BUSINESS TRIP 
DOUBLE TAX DEDUCTION 
FOR INTERNATIONALISATION
www.futurebooks.com 
FOREIGN SOURCED 
INCOME 
TERRITORIAL SYSTEM OF TAXATION
www.futurebooks.com 
DOUBLE TAXATION 
TREATIES 
FOR RESIDENT COMPANIES: 
DTAA WITH 76 COUNTRIES
www.futurebooks.com 
NON-RESIDENT STATUS 
WHEN TO CHOOSE?
www.futurebooks.com 
BUSINESS FIRST. 
TAX SECOND.
www.futurebooks.com 
WESTMINISTER PRINCIPLE (1936) 
“Every man is entitled, if he can, to order his affairs so as that the tax attaching under the appropriate acts is less than it otherwise would be. If he succeeds in ordering them so as to secure this result, then, however unappreciative the commissioners of inland revenue or his fellow taxpayers may be of his ingenuity, he cannot be compelled to pay an increased tax.” 
Duke of Westminster’s case (1936) AC 1, Lord Tomlin.
www.futurebooks.com 
SECTION 33 OF THE 
INCOME TAX ACT 
ANTI-AVOIDANCE PROVISION
www.futurebooks.com 
LET’S TALK 
inquiry@futurebooks.com 
@futureb00ks
www.futurebooks.com 
TERMS OF USE 
Restrictions on use of contents 
1.The contents of this presentation can be reproduced only with the prior permission of FUTUREBOOKS SINGAPORE PTE LTD. No alterations, additions or modifications of the contents can be made. Due acknowledgement must be given to “FUTUREBOOKS SINGAPORE PTE LTD” and citing the sources for the relevant data extracted. 
2.Any request to reproduce the contents from this presentation should be addressed to: media@futurebooks.com. 
Disclaimer of warranties and liability 
1.The contents of this presentation are provided on an “as is” basis without warranties of any kind. FUTUREBOOKS SINGAPORE PTE LTD does not warrant and hereby disclaims any warranty as to the accuracy, correctness, reliability, timeliness, non-infringement, title, merchantability or fitness for any particular purpose of the contents of this presentation. 
2.FUTUREBOOKS SINGAPORE PTE LTD shall also not be liable for any damage or loss of any kind caused as a result (direct or indirect) of the use of the presentation.

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Filing company tax and PIC claims: Intermediate