Event Details

Join us for an insightful session featuring expert speakers from Ernst & Young (EY). Get an update on key corporate tax changes from the latest Singapore Budget, alongside insights into the country's fiscal position and what it means for businesses. EY also will explore innovative customs planning strategies to optimise your supply chain and manage transfer pricing risks. Discover practical tools such as rapid assessments, product substitutions, and scenario modeling, as well as advanced valuation techniques โ€” including first sale for export, deferred title models, and bifurcation strategiesโ€”to reduce dutiable value and improve cost efficiency.


The Singapore Economic Development Board (EDB) will present an overview of the Refundable Investment Credit (RIC) scheme, which aims to support companies in their business growth and development.

Event Details

Day/Date: Wednesday, 21 May 2025

Time: 2pm - 5pm (Registration starts from 1.30pm)

Venue: Level 28 Lounge, EDB Office

Address: 250 N Bridge Rd, #28-00 Raffles City Tower, Singapore 179101

Agenda

13:30 - 14:00
Arrival and Registration of Participants
14:00 - 14:10
Welcome Remarks by AAIS
14:10 - 14:40
Key Insights on Budget 2025 for Businesses
- Key Insights from Budget 2025
- Implications for advanced manufacturing (including aerospace)
- Key Insights from Budget 2025
- Implications for advanced manufacturing (including aerospace)
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14:40 - 15:00
Singaporeโ€™s Approach to Refundable Investment Credit (RIC)
The RIC encourages companies to make sizeable investments that bring substantive economic activities to Singapore.
15:00 - 15:20
Q&A
15:20 - 15:50
Teabreak
15:50 - 16:00
Update on Impact of Tariffs
Summary of findings from EDB-AAIS industry survey
16:00 - 16:30
Tariffs & Operating Models
Possible operating models for optimising tariffs
16:30 - 17:00
Q&A

Speakers

  • Desmond Teo (Partner - Tax  | Asia-Pacific EY Private Deputy Leader at Ernst & Young LLP)

    Desmond Teo

    Partner - Tax | Asia-Pacific EY Private Deputy Leader at Ernst & Young LLP

    As one of the pioneering tax advisors for funds and family offices in Singapore, Desmond has supported clients in this industry for over two decades. He is currently the Asia Pacific Deputy Leader for EY Private group, and also leads the EY APAC Family Enterprise and EY APAC Private Tax.

    Based in Singapore, Desmond is responsible for bringing to Private clients pan-APAC solutions covering Consulting, Strategy & Transactions, Tax and Legal.

    Prior to his current role, he led the EY ASEAN Fund Tax practice and was actively involved in the lobbying of the VCC legislation. He also set up the FATCA and CRS practice within ASEAN, when these legislations were introduced. During his 2-year assignment to EY New York, he set up the inaugural Singapore Tax Desk, as part of EY Global ITTS foreign desk network.

    He also works closely with the leading private banks and trust companies to support them and their clients to cope with the evolving tax landscape and navigate through the interconnected requirements of corporate tax, personal tax, FATCA/CRS and operational taxes.

    Desmond graduated from the Nanyang Technological University with a Bachelor of Accountancy (Hons.) and is a non-practising member of the Institute of Singapore Chartered Accountants and SIATP Accredited Tax Advisor.

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  • Paul Griffiths (Partner, Transfer Pricing and Operating Model Effectiveness (OME), Asia Pacific OME Leader at Ernst & Young LLP)

    Paul Griffiths

    Partner, Transfer Pricing and Operating Model Effectiveness (OME), Asia Pacific OME Leader at Ernst & Young LLP

    Paul is a Partner with EY Singapore’s Transfer Pricing team and is the Asia-Pacific leader for Operating Model Effectiveness (OME).

    He has over 25 years of experience in transfer pricing and business restructuring and has previously worked for EY in London and Melbourne.

    Through delivery of OME, Paul has helped many groups to build robust operating models that balance the needs of business, Tax and Customs.

    Paul has worked on client engagements across a broad range of industries, including, consumer products, automotive, oil and gas, telecommunications, pharmaceutical and healthcare, industrial products, and business services.

    He has worked extensively with Asian-based Private companies, helping them to build the right operating model for international expansion.

    He has managed a wide range of OME and transfer pricing engagements covering issues such as supply chain re-organisation, intellectual property, procurement, transfer pricing design and post-acquisition integration.

    In addition, Paul has experience across a number of jurisdictions in successfully negotiating Advance Pricing Agreements and tax incentives using a range of both traditional and more advanced economic techniques.

    Paul has thirteen years of experience working in Asia, having also previously worked in Europe and Australia. Paul has a BA (Hons) and MSc in Economics from the University of Exeter.

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  • Jingxin Zheng (Vice President, Mobility and Industrial Solutions at Singapore Economic Development Board)

    Jingxin Zheng

    Vice President, Mobility and Industrial Solutions at Singapore Economic Development Board

Community

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