Professor Sum Yee Loong launches Singapore Tax Centre of Excellence
In collaboration with the Tax Academy of Singapore, and with the support of the Inland Revenue Authority of Singapore, the Singapore Management University has launched the SMU-TA Centre for Excellence in Taxation.
The SMU-TA CET represents a major new initiative in research addressing international and regional tax issues and taxation policies. It is the first research centre of its kind in Singapore. The aim of the Centre is to produce highly robust research in international and regional tax issues for policy-development and engagement of the international tax community.
SMU President Professor Arnoud De Meyer said, “In its 2010 final report, the Committee to Develop the Accounting Sector (CDAS) envisioned that Singapore should be transformed into a leading global accountancy hub. One of the main recommendations of CDAS was that Singapore should develop a Centre of Excellence in tax. I am extremely happy today that SMU has, with the support of IRAS, entered into a collaboration agreement with the Tax Academy of Singapore to set up this SMU-TA Centre for Excellence in Taxation (SMU-TA CET). I am positive that it will help actualise the vision of CDAS.”
The new Centre will be helmed by SMU Professor of Accounting Sum Yee Loong who has more than 30 years of experience in Singapore and international taxation. Prior to his appointment as SMU Professor, he provided tax advisory services to corporate clients including multi-national companies, financial institutions, international trading companies, manufacturing companies, information technology companies and many international legal firms. His areas of specialisation included corporate structuring & restructuring, restructuring for IPO, mergers & acquisitions and international tax planning.
CEO of the Tax Academy of Singapore, Mrs Eng-Tay Geok Lee said, “The Tax Academy of Singapore has taken a leading role in facilitating the growth of tax expertise. Besides providing the essential building blocks in tax education for the tax professionals, I am heartened that the Tax Academy of Singapore has taken a leap forward by setting up a tax research centre with SMU, a premier university in Singapore, to provide the platform for knowledge exchange and top quality research for tax experts, academics and practitioners from around the world.”
SMU-TA CET will partner members of academia, industry leaders and government officials to produce multidisciplinary research on international taxation, from legal, economic and public policy perspectives. It will receive the support of a soon-to-be established Technical Advisory Panel comprising leading academics and key practitioners, both local and international, with extensive experience and knowledge of global tax trends and issues. The expert advisers will provide technical expertise and guide the SMU-TA CET towards identifying constructive research agenda and producing quality research.
Centre Director Professor Sum shared that the Centre will first tackle projects on international tax issues that are relevant to Singapore and Asian economies, and look into the impact of the changing global tax landscape on the region’s economic competitiveness. Plans are also in the pipeline for the Centre to develop a post-graduate programme in international tax.
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