You and the Taxman

6. Singapore transfer pricing landscape: Key trends and audit focus

In our latest episode, Amy is joined by EY Singapore transfer pricing (TP) specialists, Rajesh Bheemanee, Vivienne Ong and Lee Ying Jow as they discuss how evolving global tax reforms and rising audit scrutiny are reshaping the TP landscape across Asia. The discussion highlights the growing importance of bilateral advanced pricing agreements (BAPAs), alongside stricter enforcement by tax authorities such as the Inland Revenue Authority of Singapore (IRAS), and what this means for businesses operating in Singapore and the region.  The discussion covers three key themes: * TP is a strategic risk area, not just a compliance exercise: Heightened global scrutiny, including the Organisation for Economic Co-operation and Development (OECD) reforms and increased audit activity, has elevated TP to a board-level issue. Businesses must carefully manage how profits are allocated across jurisdictions, as authorities are taking a stricter stance with greater enforcement, penalties and documentation requirements.  * Proactive dispute prevention is critical in a more complex audit environment: Tax audits are becoming longer, more detailed and less flexible on timelines. Robust, contemporaneous TP documentation is now essential, forming the first line of defence. Many organisations are also turning to advance pricing agreements (APAs), particularly bilateral arrangements to gain upfront certainty and reduce the risk of cross-border disputes.   * Strong governance and alignment underpin successful outcomes: Effective TP management requires more than technical analysis. Businesses should ensure alignment across tax, finance and operations, maintain consistent documentation, and adopt a clear, coordinated response strategy during audits. A broader governance framework, including the use of APAs and dispute resolution mechanisms like mutual agreement procedures (MAPs) can help manage risk and avoid double taxation.    With increasing complexity in cross-border transactions and heightened expectations for transparency, organisations must now adopt a more strategic and proactive approach to managing TP risks, moving beyond compliance to focus on dispute prevention and tax certainty.

5. Singapore Budget 2026

In this episode, Amy is joined by EY Singapore Tax partner, Chia Seng Chye where they discuss the Singapore Budget 2026 announcements and their impact on businesses.      The discussion covers three key themes: •           Singapore Budget 2026 focuses on future-proofing Singapore amid uncertainty, strengthen competitiveness and resilience.  •           Artificial intelligence (AI) is a key focus of Budget 2026 — Singapore is doubling down on adoption, skills and its ambition to be a trusted global AI hub.  •           With Singapore proceeding with BEPS 2.0 Pillar Two via the Multinational EnterpriseTop-up Tax (MTT) and Domestic Top-up Tax (DTT) regimes, companies need to get compliance-ready.    The Singapore Budget 2026 demonstrates fiscal prudence to reaffirm commitment to long-term economic resilience and sustainable growth. While there are no headline tax rates increase, targeted measures have been introduced to support businesses in their internationalisation journeys, accelerate AI and technology adoption, and strengthen workforce capabilities.

4. Single family offices: Opportunities, challenges and tax considerations

In this episode, Amy is joined by our EY Singapore Tax partners, Cedric Tan and Spencer Hsu where they discuss what is driving the surge and challenges of setting up single family offices (SFOs) in Singapore, and the shifting tax landscape families must navigate.   The discussion covers three key themes: •           Rapid growth of Singapore's SFO ecosystem: Singapore's political stability, strong wealth management infrastructure, multicultural society and education system make it a preferred hub for long-term family wealth planning. •           Setting up an SFO is not a cookie-cutter approach: Families need to consider their goals and objectives early during planning and avoid generic structures as no two families are alike. •           Incentives and tax considerations: Families need to stay updated as rules, global tax developments and compliance standards evolve. The success of an SFO hinges on early planning, clarity of purpose and staying agile amid evolving tax rules and global trends. With the right structure and advisors, families can preserve wealth, strengthen governance and build legacies that endures across generations.

3. Tax challenges and opportunities in Singapore’s private capital landscape

In this episode, Amy is joined by our EY Singapore Tax partners, Desmond Wong, Nicole Li and Sandie Wun where they delve into the evolving landscape of private capital.  The discussion covers three key themes: * Singapore's strength as a capital hub: The favourable regulatory frameworks and initiatives from the Monetary Authority of Singapore (MAS), providing a competitive edge over other regions. * Value creation initiatives: Acquiring assets is no longer sufficient in today's private equity market. There is a strong focus on initiating value creation at the beginning of the investment lifecycle to enhance efficiency and competitiveness.  * Tax considerations and strategies: As private markets investors navigate complex transactions, understanding the tax implications at both the fund and investment levels is crucial.  As Desmond, Nicole and Sandie share their perspectives, it is clear that the evolving private capital landscape presents both challenges and opportunities, underscoring the importance of strategic value creation, tax optimization and collaborative efforts to navigate this dynamic environment successfully.

2. Artificial intelligence and its impact on the future of tax

In this episode, Amy is joined by EY Singapore partners, Manik Bhandari, Ching Khee Tan and Agnes Fok where they discuss the transformative impact of artificial intelligence (AI) on the tax profession.   The discussion covers three key themes: •           AI adoption and data readiness: The importance of data quality and readiness for effective AI implementation. •           Impact of AI on the tax function: How AI is transforming the tax profession to focus on strategic analysis rather than routine tasks. •           Impact of AI on the future of work and talent development: The evolving nature of jobs in the tax profession and attracting diverse talent to meet shifting demands.   As Manik, Ching Khee and Agnes share their perspectives, it is clear that the integration of AI in the tax profession is essential for enhancing efficiency and strategic decision-making.    Tune in to hear how AI is set to revolutionise the tax profession by driving innovation and growth.