Taxise Asia LLC (WTS Taxise)

Taxise Asia LLC (WTS Taxise) has been named as the Transfer Pricing Law Firm of the Year at the annual ITR Asia Pacific Awards 2024.

16 September 2024, Singapore – Taxise Asia LLC (WTS Taxise) has been recognised as a Recommended Firm  in the 2024 edition of Asialaw.

The Inland Revenue Authority of Singapore (IRAS) released the 7th edition of its Transfer Pricing Guidelines on 14 June 2024.

21 August 2024, Singapore – We are pleased to announce that Taxise Asia LLC (WTS Taxise) has been recognised by International Tax Review in its latest ITR World Tax 2025 rankings for international tax,

16 September 2024, Singapore – Taxise Asia LLC (WTS Taxise) Founding Principal Eugene Lim is now ranked as a Distinguished Tax Practitioner in the Asialaw 2024 rankings,

We are pleased to introduce the latest WTS Global Transfer Pricing Guide for Asia Pacific countries.

The Philippines is not a member of the Organisation for Economic Cooperation and Development (“OECD”), but their transfer pricing regulations are largely based on OECD Guidelines.

On 19th February 2024, the Organization for Economic Cooperation and Development (OECD)/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) released the report on Amount B of Pillar One.

31 January 2024, Singapore – Leading legal directory Legal 500 has once again recognised Taxise Asia LLC (WTS Taxise) as a Tier 2 Singapore Tax Firm following its promotion to top-tier position last year.

Effective 1 January 2024, gains from the disposal of foreign assets may be deemed taxable under the new Section 10L of the Income Tax Act (“Section 10L”) if,

Global and regional tax MNC tax executives ask WTS Global to support them in navigating this fast-changing landscape.

On 16 February 2024, Deputy Prime Minister and Minister for Finance, Mr. Lawrence Wong, presented Singapore’s Budget 2024 (“Budget 2024”) to the Singapore Parliament.

Indonesia’s new transfer pricing (“TP”) guidelines are enshrined in the Minister of Finance Regulation 172/2023 (“MoFR-172”),

WTS Taxise is pleased to announce the arrival of seasoned tax specialist and lawyer Justin Tan as Consultant. Justin brings to the firm his wealth of experience in international tax with a focus on cross-border transactions.

WTS Taxise is pleased to announce the arrival of seasoned tax specialist and lawyer Justin Tan as Consultant. Justin brings to the firm his wealth of experience in international tax with a focus on cross-border transactions.

What businesses in Asia need to know in light of the recent export and sanctions developments and the US-China trade tensions

Ship pooling arrangements have become more common as shipowners seek greater efficiencies in the deployment of their vessels.

Post-Covid Asia Pacific recovery promises new opportunities for businesses. However, the need to replenish coffers, the changing international tax and geo-political landscape will pose challenges for tax regulators and tax leaders.

Singapore, 15 Nov 2022 – Lexology has named WTS Taxise Principal and Co-Founder Irving Aw as the exclusive winner of the 2022 Client Choice Award for Corporate Tax in Singapore.

16 December 2022, Singapore – Taxise Asia LLC (WTS Taxise) is delighted to have been promoted to Band 3 for Singapore Tax in the Chambers and Partners Asia Pacific 2023 publication.

What businesses in Asia need to know in light of the recent export and sanctions developments and the US-China trade tensions

31 Aug 2023, Singapore – WTS Taxise has once again been recognised by International Tax Review (ITR) World Tax in its 2024 edition as among the leading firms for International Tax and Transfer Pricing in Singapore.

14 Mar 2023, Singapore – Taxise Asia LLC (WTS Taxise) has been recognised as among Asian Legal Business’ (ALB) Singapore Firms to Watch in 2023.

11 September 2023, Singapore – WTS Taxise is pleased to welcome Karmi Leiman, international trade and compliance specialist, and Christine Schwarzl, transfer pricing specialist who have joined the firm as Consultants.

Budget 2023 was delivered by Deputy Prime Minister of Singapore and Minister for Finance, Mr. Lawrence Wong, to the Singapore Parliament on 14 February 2023.

In relation to digital transactions and e-commerce, what are the latest tax developments in Singapore?

The Inland Revenue Authority of Singapore (IRAS) has recently published comprehensive guidance regarding the upcoming Goods and Services Tax (GST) rate change from 8% to 9%, which will take effect on 1 January 2024.

The country-specific information shown in the overview reflects the latest legislative updates, which we collect from our tax experts on a monthly basis. Last update: 30 May 2023 See the full article here.  

WTS Taxise has bolstered its Transfer Pricing (TP) practice through its cooperation with Adnan Begic as Senior TP Specialist & Consultant. Adnan’s expertise further builds on the growing TP offering of WTS Taxise and WTS Global in Asia Pacific.

Taxise Asia LLC (WTS Taxise) has been promoted by Legal 500 Asia Pacific to Tier 2 from Tier 3 for Singapore Tax in its 2023 rankings. Co-Founders and Principals Eugene Lim and Irving Aw have also been ranked Leading Tax Individuals this year. Associate Principal and Transfer Pricing Leader Molvin Yiu, meanwhile, has been named Next Generation Partner. In this latest edition of the legal publication, WTS Taxise is the sole law firm with the most number of tax practitioners ranked in the leading lawyers and next generation partner rankings in Singapore.

Ship pooling arrangements have become more common as shipowners seek greater efficiencies in the deployment of their vessels. In advance ruling summary no. 15/2022, the Singapore tax authorities have clarified Singapore’s tax treatment of cross-border ship pooling arrangements that are managed out of Singapore.

Post-Covid Asia Pacific recovery promises new opportunities for businesses. However, the need to replenish coffers, the changing international tax and geo-political landscape will pose challenges for tax regulators and tax leaders.

Lexology has named WTS Taxise Principal and Co-Founder Irving Aw as the exclusive winner of the 2022 Client Choice Award for Corporate Tax in Singapore. Established in 2005, Client Choice recognises individuals that stand apart for the excellent client care they provide and the quality of their service. The criteria for this recognition focus on an ability to add real value to clients’ business above and beyond other players in the market. Uniquely, lawyers can be nominated only by corporate counsel, with this year’s winners chosen from a pool of more than 2,000 individual client assessments.

Taxise Asia LLC (WTS Taxise) is delighted to have been promoted to Band 3 for Singapore Tax in the Chambers and Partners Asia Pacific 2023 publication. This is the second consecutive year WTS Taxise has been ranked by Chambers alongside leading tax law firms in Singapore.

Broadly speaking, there are three main ways in which a tax dispute can arise. First, there may be different interpretations of the tax laws in question. Second, there may be disagreement in terms of how the tax laws are applied to the facts of the case. Third, there is disagreement on how the facts are construed and characterized. Due to these uncertainties in the area of tax, it is not uncommon for tax disputes to arise between a company and the tax regulator. If not managed properly, a tax dispute may lead to serious consequences for both the company and the key personnel involved.

WTS Taxise has garnered new firm and practitioner rankings in International Tax Review's (ITR) 2023 World Tax, World Tax Leaders and maintained its ranking in ITR's 2023 World Transfer Pricing.

Taxise Asia LLC (WTS Taxise) has received multiple recognitions in the 2022-23 edition of Asialaw and Best Lawyers annual publications. These mark the firm's inclusion in the Asialaw rankings for the third year and Eugene Lim's Best Lawyers practitioner rankings for seven years (pre-Taxise).

Taxise Asia LLC (WTS Taxise) has won Best Newcomer Award at the 22nd International Tax Review (ITR) Asia Pacific Awards 2022.

Taxise Asia LLC (WTS Taxise) has been ranked Band 3 for Singapore Tax in the 2022 edition of Legal 500 Asia Pacific. This latest recognition marks the Firm’s entry into the Legal 500 rankings for the first time. This also comes on the back of the Firm’s Chambers Asia Pacific 2022 rankings for Singapore Tax [read more – Chambers Asia Pacific recognises WTS Taxise as among 2022 leading tax law firms and lawyers in Singapore]. WTS Co-Founders and Principals Eugene Lim and Irving Aw have also been recognised as Recommended Lawyers for Singapore Tax.

Please join Taxise Asia LLC (WTS Taxise) in congratulating Eugene Lim for being named 2021 International Trade Lawyer of the Year by The Asian Lawyer.

Taxise Asia LLC (WTS Taxise) is pleased to announce the arrival of Ma HanFeng. HanFeng is a Singapore-qualified lawyer with more than a decade of litigation experience including at the law division of the Inland Revenue Authority of Singapore (IRAS) where he represented IRAS in a wide range of tax dispute matters. Click here to view HanFeng’s profile.