INTRODUCTION

Singapore offers a strong investment climate and competitive tax environment in a free enterprise economy. It has managed to attract many foreign investors with its attractive corporate and personal income tax rate, and an absence of a capital gains tax. The relative ease of setting up a business in Singapore along with its numerous tax incentives help ensure Singapore remains a business-friendly environment for local and international businesses alike.

Tax

OBJECTIVES

The EuroCham Regional Tax committee provides members with a platform for an exchange between in-house tax managers from European businesses with a focus on Asia Pacific tax matters. The committee also serves as an effective platform for engagement and advocacy with enterprise promotion authorities in Singapore, Europe, and ASEAN. The committee also provides for the exchange of information among other tax committees within the regional EuroCham network.

CHAIRMEN

Mr Jordi Bonabosch, Regional Tax Manager, Remy Cointreau International Pte Ltd (Chair)
Mr Adnan Begic, APAC Head of Transfer Pricing, Michelin Asia-Pacific Pte Ltd (Co-Chair)
Ms Listryarinie Ongko (Lis), Senior Indirect Tax Advisor, BP Singapore Pte Ltd (Co-Chair)
Mr Noe Denis, Regional Tax Officer, Asia Pacific, Allianz SE (Co-Chair)
Mr Oliver Farnworth, Corporate Head of Taxation, Zuellig Pharma Holdings Pte Ltd (Co-Chair)

HIGHLIGHTS

  • Sharing of Singapore tax incentives by EDB
  • Presentation by Director of Malaysian Customs department
  • Transfer pricing development updates with IRAS
  • Annual feedback submission to the Singapore budget
  • Discussion with IRAS on mutual agreement procedures and advance pricing arrangements
  • EDB briefing to members on BEPS Action 5 platform and IP Development Incentives
  • Industry sharing of challenges on customs and transfer pricing

TOPICS

  • Transfer pricing developments and updates
  • Regional implementation of GST
  • OECD Base Erosion and Profit Shifting
  • Tax incentives policies of Singapore
  • Tax challenges arising from the digitalisation of the economy (BEPS 2.0)

STAKEHOLDERS INCLUDE