Achieving tax excellence is not just about practical insights to manage the complexities, it is also very much about having a strong grasp of fundamentals to ensure a strong foundation. It always helps to have a refresher on these fundamentals to solidify the foundations and be set for greater heights of achievements.

This was exactly what the Singapore Institute of Accredited Tax Professionals (SIATP) set out to do in the recent months as its technical sessions covered both the essentials and various tax complexities coupled with discussions on emerging tax issues the digitalised age brings.

Adriana Calderon, Director, Transfer Pricing Solutions Asia, shared her extensive expertise and insights on a key area of transfer pricing (TP) – TP methods. Tax professionals had the opportunity, through various case studies, to jolt their memories on the five methods and pick up tips on applying the method that best suits the related party transaction.

Adriana Calderon, Director, Transfer Pricing Solutions Asia, sharing her extensive international experiences with participants

Leapfrogging from the fundamentals to the future, a Tax Excellence Decoded session was also organised on the TP-related ongoing and future developments in both Singapore and India. Focusing on the interplay between digitalisation and TP by a panel from academia, commerce and consultancy, the session highlighted the permeating impact of digitalisation on the operations of businesses across a myriad of sectors. The discussion also drew attention to the possible implications that evolving developments in digitalisation has on TP management.

Participants gained 360-degree insights from panellists representing academia, commerce and consultancy

Participants interacting with Accredited Tax Advisor (Income Tax) Grace Huang (1st from left) and Ridzuan B. Mohd Nasri (2nd from right), both from PwC International Assignment Services (Singapore)

Moving on to another area of complexity, the session on employment tax aimed to connect the dots among the payroll, accounting, tax and employee experience. Facilitated by Accredited Tax Advisor (Income Tax) Grace Huang, Director for Global Mobility Services, PwC International Assignment Services (Singapore) Pte Ltd, the session was well received by both the tax and non-tax professionals, with many giving positive feedback. Participants lauded the practical examples which covered various areas beyond tax, but were still relevant to the discussion.

Email SIATP if you, too, want to journey towards tax excellence.