Singapore and Hong Kong – The Future of Taxation

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17 December 2020, Thursday

06.00 - 07.30PM
Zoom Conference

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Programme Synopsis

The OECD’s Global Anti-Tax Erosion (GloBE) proposal develops rules providing that countries can tax income where other countries do not exercise their primary taxing rights over that income.

What can affected countries with primary taxing rights do in response? One option is to let other countries receive the taxes they choose not to collect. 

This means that they will suffer the economic harms of taxation without receiving the tax revenues. Another option is to increase their taxes so the primary taxing rights will be ‘fully’ exercised. 

However, this option might not be desirable or feasible for various reasons, including the broader implications for domestic taxpayers. 

This talk proposes a third option: introducing a new defensive tax which would apply where income subject to the relevant country’s primary taxing rights would be taxed in another country in the absence of this defensive tax. 

The result would be that the country with the primary taxing rights would collect the tax revenues. This tax would not materially affect the multinational enterprise’s overall tax liability and incentives or create much additional complexity. 

This tax is fair at the international level as it allocates the tax revenues to the country with the primary taxing rights. Countries that may be adversely affected by the recent international tax developments should consider adopting this tax to defend their primary taxing rights.

Please join Dr Noam Noked who will be presenting on the topic above, followed by a panel discussion on the future of taxation for source countries such as Hong Kong and Singapore in view of these changes.

Programme Outline


About the Presenter(s)/ Trainer(s)

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Dr Noam Noked
Assistant Professor of Law at the Chinese University of Hong Kong and Of Counsel
Baker McKenzie (Hong Kong)

Dr Noam Noked is an Assistant Professor of Law at the Chinese University of Hong Kong. His research focuses on tax policy, international tax competition, tax transparency, and compliance. He holds a doctoral degree in law from Harvard Law School and undergraduate degrees in law and accounting from Tel Aviv University.

Noam also works (on a part-time basis) as a tax lawyer in the Hong Kong office of Baker McKenzie, advising financial institutions, corporations, and individuals on U.S. and international tax matters.

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Mr Nico Derksen
International Tax Management Pte Ltd
Accredited Tax Advisor (Income Tax)

Nico is a Singapore PR and Dutch national, living and working in Singapore since the beginning of 2010. 

Nico has started his own firm, ITM, early 2012. Being independent, he offers a more personalized and tailored service than before. His current clients are ranging from large multinationals, start up entrepreneurs, high net worth individuals, private equity funds, hedge funds, to governmental institutions, based in over 35 countries, doing business all across the globe. 

Nico is a regular speaker at seminars, publishes regularly articles on tax topics, and has been teaching in many locations, including at the Singapore Tax Academy. Besides his masters in Dutch tax law, Nico has been accredited in Singapore as a tax advisor by the SCTP. He is also Deputy Chair of the Singapore chapter of the International Fiscal Association, and member of the IFA global Permanent Scientific Committee. He is further associated with the Singapore University of Social Sciences (SUSS) where he teaches Cross Border Tax Planning at the Master course.

Next to his tax related activities, Nico is since 2012 a member of the board responsible for taxation at the AT Capital Group, a Singapore head quartered private investment firm with USD 2.5 Billion investments in predominantly the energy and real estate space across multiple jurisdictions.

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Mr Pieter de Ridder
Partner, Mayer Brown LLP
Managing Partner, Mayer Brown LLP (Singapore)
Accredited Tax Advisor (Income Tax)

Pieter de Ridder is a Partner of Mayer Brown LLP and Managing Partner of the firm’s Singapore office.

Pieter has been based in Asia since 1991 and has ample experience with advising multinational companies and institutions with interests in one or more Asian jurisdictions on their inbound and outbound work. Pieter was previously based as a tax adviser in the Netherlands, Indonesia and Hong Kong, before he arrived in Singapore in 1996.

His practice focuses on cross-border tax structuring advice on direct investments, restructurings, financing arrangements, supply chain matters, private equity and real property investments into or from Indonesia, mainland China, Hong Kong, India, Korea, Japan, Singapore and other ASEAN countries.

He takes a special interest in Hong Kong, Singapore and Indonesian taxation. 


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