The London Interbank Offered Rate (LIBOR), the world’s most widely used benchmark for short-term interest rate, is slated to end in 2021. The Monetary Authority of Singapore and various stakeholders are already leading the smooth transition from Singapore Swap Offer Rate (SOR) to the new Singapore Overnight Rate Average (SORA).
Considering the significance of the LIBOR to all businesses with financing and treasury operations, not just financial services, the Singapore Chartered Tax Professionals (SCTP) is organising a complimentary members-only webinar facilitated by Accredited Tax Advisors Mr Sam Sim, Co-founder and Senior of Counsel at WTS Taxise and Mr Lum Kah Wai, for the accredited to gain an early start in understanding the business and tax impact on this move.
With practical experiences of both Sam and Kah Wai in the banking and financial services, and regional corporate treasury, this webinar provides the background to understand the changes and some of the tax and transfer pricing implications for businesses in Singapore. The webinar ends with a Q&A session where additional guest accredited tax advisor from the banking and financial sector will be present to exchange perspectives and share practical insights too.
Mr Sam SimCo-Founder, Senior of Counsel
WTS Taxise
Accredited Tax Advisor (Income Tax)
Sam is board member of Tax Analysts, previously Regional VP, Europe, Asia and Latin-America for the Tax Executive Institute (TEI), and Chair of the Capital Markets Tax Committee TP sub-committee. He is a senior advisor to Vienna University, Institute for Austrian and International Tax Law, Global Tax Policy Center, a member of the ADIT committee of the UK Chartered Institute of Taxation and a member of the Practice Council for New York University School of Law. Sam is a member of the Income Tax Board of Review hearing income tax appeals cases. He has extensive experience in cross-border taxation, digital tax, transfer pricing, tax controversies including tribunal and APAs and Intellectual Property issues across sectors including technology, banking & finance, manufacturing and distribution.
Mr Lum Kah WaiAccredited Tax Advisor (Income Tax & GST)
Kah Wai is a highly experienced tax leader with more than 20 years of tax experience gained from Big Four, commercial and banking sectors covering the Asia Pacific region. His areas of tax expertise include Direct/ Corporation Tax, Indirect Tax, Transfer Pricing and Operational Tax. As the former Asia-Pacific head of tax with Barclays, Kah Wai was also involved in the work of managing all taxation matters in countries such as Japan, Mauritius, Pakistan, Philippines, and Thailand. He is experienced in providing tax advisory support, tax compliance and tax reporting to both business and support functions, mergers and acquisitions, due diligence and structuring, tax compliance, tax risk and control.