Charting the waters: navigating the tax updates and accounting practices for the shipping sector

Get the latest tax updates and accounting practices impacting the shipping sector.

Base Erosion and Profit Shifting (BEPS) Pillar Two presents a new set of challenges for shipping companies with operations traversing multiple tax jurisdictions. It is important for management to understand how transactions are being accounted for.

In addition, the European Union Emissions Trading System (EU ETS) will apply to 100% of emissions from intra-EU voyages and 50% of emissions from voyages from or to an EU port. This highlights the increasing focus on environmental accountability within the shipping sector.

Within our own shores, the alternative tonnage tax basis of taxation allows the qualifying income of qualifying shipping companies to be taxed in reference to the net tonnage of their ships.

Join us for this event, designed for senior tax and finance professionals from the shipping sector, where we will dive into the sector’s latest tax updates and accounting practices. This is a great opportunity to engage in meaningful discussions, exchange knowledge, and expand your professional network with your industry peers.

We will also share some of our feedback for the Singapore Budget 2025 wish list for the shipping sector. Participants are encouraged to send in their questions and wish list in advance upon registration in the RSVP form.

Event highlights

• Panel discussion on EU ETS and BEPS 2.0 Pillar Two
• Alternative tonnage tax basis of taxation
• Sale and leaseback transactions
• Singapore Budget 2025 wish list for the shipping sector

Speakers

• Shekaran K Krishnan, Partner, Assurance, Ernst & Young LLP
• Chester Wee, EY Asean International Tax and Transaction Services Leader and Partner, Ernst & Young Solutions LLP
• Michael Lim, Partner, Assurance, Ernst & Young LLP
• Cedric Tan, Partner, Business Tax Services, Ernst & Young Solutions LLP
• Ying Yeo, Partner, International Tax and Transaction Services, Ernst & Young Solutions LLP

Important note:

Seats are limited. Registration closes on 14 October 2024 or when seats are filled. A confirmation email will be sent to you if your registration is successful. EY Corporate Advisors Pte. Ltd. reserves the right to accept registration, cancel the event or amend the schedule and speakers due to circumstances beyond our control.

Please note that photographs, video and/or audio recordings (Materials) may be taken during the event. The EY member firms in Singapore may collect, use, reproduce, edit and/or share the Materials for its internal and external publications (which include magazines, newsletters and website), for publicity and marketing purposes, and/or for post-event communications with event attendees. All rights, title and interests in the Materials shall belong to EY.

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