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Seminar Series: Trust Tax - Trap or Map? (Session 2, 19 March 2024, 12-2pm)
Tuesday 19 March 2024, 12:00 - 14:00

Series Synopsis

With OECD’s BEPS framework, FATCA, CRS, economic substance laws and on the horizon, the proposed new Section 10L of ITA, the fiduciary industry continues to grapple with an increasingly granular tax reporting. These initiatives have made tax transparency and reporting an onerous task for trustees.  The interplay of the requirements can be complex to navigate.

Part 1 of the Series examines the Singapore tax issues around trusts administered by Singapore trustees, their tax obligations, the substance requirement of the trust structures and the reporting obligations.

Part 2 of the Series examines the evolution of the Singapore structures with changing needs of the family and the regulatory environment.  The single-family office structure continues to entice families to Singapore. With heightened requirements for the tax exemption scheme and anti-money laundering requirements, this session looks into the new criteria of family office and pairing the criteria with tax issues discussed in the first session.

Seminar Programme: Part 1 - 17 January 2024

4.00 – 4.30pm Registrations and Refreshments
4.30 – 4.35pm Opening Remarks by Chairperson  
Mr. John Tan – Managing Director, Alpadis Group
4.35 – 5.45pm Session 1: Trust Tax - Trap or Map? (Part 1)
Mr. Edmund Leow SC – Senior Partner, Dentons Rodyk & Davidson LLP
5.45 – 6.00pm Panel Discussion & Q&A Session

Seminar Programme: Part 2 - 19 March 2024

12:00 – 12.30pm Registrations and Standing Buffet Lunch
12.30 – 12.35pm Opening Remarks by Chairperson  
Ms. Goh Seow Chee – Managing Director, Aequitas Advisory Pte Ltd
12.35 – 1.45pm Session 2: Trust Tax - Trap or Map (Part 2)
Mr. Irving Aw – Director, Singapore, Osborne Clarke
1.45 – 2.00pm Panel Discussion & Q&A Session

About the Speakers:

Edmund_Leow_SC.jpg

Mr. Edmund Leow SC – Senior Partner, Dentons Rodyk & Davidson LLP

Edmund is a senior partner heading up the firm’s Tax practice with three decades of experience in advising multinational organisations on cross-border tax planning, transfer pricing and tax disputes. He also advises on international trade issues such as customs, WTO and free-trade agreements. He also leads the firm’s Trust, Estates and Wealth Preservation practice and advises high net worth individuals, private banks and trust companies in personal tax, as well as in trust and estate planning matters.

Edmund was invited by the government to serve as a Judicial Commissioner at the Supreme Court and served from 2013 to 2016. On stepping down, he was appointed Senior Counsel in 2017, making him the first and only Tax and Trust lawyer to be given this accolade nationwide.

Edmund is the President and an honorary member of the Singapore Trustees Association (STA). He is a cofounder of the STA, and previously served as its President from 2004 to 2008, then as Vice President from 2008 to 2013. He was elected President again in 2019. The STA represents the interests of trust companies in Singapore. In addition, he has been appointed Deputy Chairman of the Income Tax Board of Review, which is a statutory tribunal which hears income tax disputes between the Inland Revenue Authority of Singapore and taxpayers.

Irving Aw 2023

Mr. Irving Aw - Director, Singapore, Osborne Clarke

Irving is a dual-qualified attorney (New York and Singapore) with more than 18 years’ experience in tax and investment fund. Irving’s broad tax practice covers international tax, corporate income tax, value added tax, and tax controversies in Singapore and in the Asia-Pacific region. He advises and supports clients from a plethora of sectors and industries, including technology companies, financial institutions, life science companies, energy companies, and family offices, on complex domestic and cross-border tax issues and transactions. He also regularly advises international organizations and national governments on tax law and tax policy matters.

In his other practice area of investment funds, Irving has worked extensively on both upstream fund formation and downstream transactional mandates. He represents fund sponsors and mangers in the legal and tax structuring and formation of private funds across a wide range of investment strategies, as well as supports the legal and tax aspects of the investment and divestment activities of such funds. Irving is recognised for his tax law expertise by Chambers, The Legal 500, International Tax Review, and AsiaLaw, and is the winner of the 2022 Lexology Client Choice Award for Corporate Tax in Singapore.

About the Moderators:

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Mr. John Tan – Managing Director, Alpadis Group

With 19 years of experience in trust and fiduciary planning and administration, John brings a wealth of knowledge and expertise to Alpadis Group. Throughout his career, he has worked with corporate clients, as well as high and ultra-high net worth private clients across multiple jurisdictions. John began his career at HSBC Trustee Singapore in 2004, subsequently working with an international French bank and a Swiss private bank. Prior to joining Alpadis, John held the position of Managing Director at Ocorian Singapore office.

John holds a Bachelor of Business Administration degree, majoring in finance, from RMIT University, Australia. He is a full member of the Society of Trust and Estate Practitioners (STEP) and is fluent in English and Mandarin.

GSC

Ms Goh Seow Chee - Managing Director, Aequitas Advisory Pte Ltd

Before starting Aequitas, Seow Chee has spent more than 20 years in the tax and financial services industry specializing in tax investigation, trust and family succession planning. In the most recent years, Seow Chee has been sharpening her focus on family office space, supporting Singapore and international clients. Prior to founding her firm, Seow Chee was the Managing Director and Head of Wealth Advisory South East Asia at J P Morgan Private Bank, Singapore. She had previously held senior positions in HSBC Trustee Singapore and Equity Trust Singapore (now known as TMF Group). She started her career with Inland Revenue of Singapore as a tax investigator.

Membership Type

Fees

Members of STEP (includes all membership categories including Student members) S$60
  • Chartered Institute for Securities and Investment (CISI) Singapore
  • CFA Singapore
  • CPA Australia
  • CPA Singapore/ISCA
  • International Fiscal Association (IFA)
  • Chartered Secretaries Institute of Singapore (CSIS)
  • Law Society of Singapore
  • Singapore Corporate Counsel Association (SCCA)
  • Singapore Chartered Tax Professionals (SCTP)
  • Singapore Trustees Association (STA)

S$90

  • Students & Staff of Wealth Management Institute (WMI)
S$90

Others

S$120

Download brochure HERE.

Location :RNN Conference Centre, Meeting Room 1, 137 Cecil Street, Cecil Building, #04-01, Singapore 069537
Contact :STEP Secretariat, This email address is being protected from spambots. You need JavaScript enabled to view it.
STEP CPD Scheme: 1.5 hours

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