Taxise Asia LLC (WTS Taxise) > Singapore, Singapore > Firm Profile

Taxise Asia LLC (WTS Taxise) > Firm Profile

Taxise Asia LLC (WTS Taxise) is a Singapore-based boutique law firm specialising in international tax and international trade law. Founded in 2019 by some of the region’s market-leading international tax and international trade lawyers and practitioners, WTS Taxise offers practical and audit conflict-free advice on complex local and international tax and international trade matters drawn from its unique mix of professionals including lawyers, tax accountants, economists, academics and senior former in-house tax specialists in its ranks. WTS Taxise is a member firm of WTS Global, an international network of selected tax firms, with presence in more than 100 countries worldwide.

Leading tax practitioners in the region from band-1 ranked tax practice, senior former in-house tax specialist and tax lawyer of an international organization. Despite being a newly established law firm, the calibre of WTS Taxise’s key specialists is second to none.

Eugene Lim serves as the co-chairman of the Tax & Trust Committee of the Law Society of Singapore and is a Board member of the Tax Academy of Singapore, the not-for-profit training arm of the Inland Revenue Authority of Singapore. Eugene is ranked as a Highly Regarded Tax Practitioner for Indirect Tax and for Tax Controversies by the International Tax Review in 2020 and a Leading Lawyer for Tax by AsiaLaw Profiles in 2020.  Prior to co-founding Taxise, Eugene was the head of an international firm’s Chambers & Partners band 1-ranked Tax, Trade and Wealth Management practice in Singapore and also served as the firm’s regional chair of Trade & Commerce and Indirect Tax Practices. Eugene was previously ranked in Chambers & Partners for International Trade: Asia; International Trade: Southeast Asia; Tax: Singapore; and in The Legal 500 for Tax: Singapore.

Rapidly expanding practice: Despite only having been founded in recent years, we have over ten timekeepers in Singapore and our Philippines Transfer Pricing Centre of Excellence. This makes us one of the largest law firm tax practices in Singapore despite our relative youth. We are also the only other law firm tax practice in Singapore with a full-service tax offering with specialist practices in the areas of international tax, transfer pricing and international trade.

Growing network of high-profile clients: WTS Taxise has in a very short period of time built an impressive list of high-profile and diverse clients comprising Fortune 500 companies, US, European and Asian multinationals, funds, fintech companies, scale-ups and start-ups as well as high-net-worth-individuals and their family offices.

Complex and extensive cross-border work: Our active matters cover regional or cross-border advice involving key Asia/SEA jurisdictions and beyond. Our matters include complex global and regional international tax structuring, transfer pricing, corporate tax, indirect tax, individual income tax, global supply chains, tax and trade controversies, international trade, customs, export controls and trade sanctions.

Global network of WTS member firms: Leveraging our network of WTS Global partner firms in 100+ jurisdictions, our specialists take the lead in advising on multi-jurisdictional work, utilising international best practices from our cross-border collaborations. WTS Global is a Chambers & Partners ranked Band-1 Global Tax Network.

For more details, click here to visit the website .

Press Releases

Seasoned tax professional and lawyer Justin Tan joins WTS Taxise

15th January 2024 WTS Taxise is pleased to announce the arrival of seasoned tax specialist and lawyer Justin Tan as Consultant. Justin brings to the firm his wealth of experience in international tax with a focus on cross-border transactions.

Seasoned tax professional and lawyer Justin Tan joins WTS Taxise

11th January 2024 WTS Taxise is pleased to announce the arrival of seasoned tax specialist and lawyer Justin Tan as Consultant. Justin brings to the firm his wealth of experience in international tax with a focus on cross-border transactions.

U.S. export controls and sanctions update and the implications of U.S.-China trade tensions on businesses in Asia

27th September 2023

What businesses in Asia need to know in light of the recent export and sanctions developments and the US-China trade tensions

Tax treatment of ship pooling arrangements

25th September 2023 Ship pooling arrangements have become more common as shipowners seek greater efficiencies in the deployment of their vessels.

Post-pandemic Asia Pacific: Taxation fast lanes and speed bumps

25th September 2023 Post-Covid Asia Pacific recovery promises new opportunities for businesses. However, the need to replenish coffers, the changing international tax and geo-political landscape will pose challenges for tax regulators and tax leaders.

Irving Aw wins 2022 Lexology Client Choice Award for Corporate Tax – Singapore

25th September 2023 Singapore, 15 Nov 2022 – Lexology has named WTS Taxise Principal and Co-Founder Irving Aw as the exclusive winner of the 2022 Client Choice Award for Corporate Tax in Singapore.

Chambers Asia Pacific 2023 promotes WTS Taxise to Band 3; recognises Co-Founding Partners as leading and up-and-coming tax lawyers

25th September 2023 16 December 2022, Singapore – Taxise Asia LLC (WTS Taxise) is delighted to have been promoted to Band 3 for Singapore Tax in the Chambers and Partners Asia Pacific 2023 publication.

U.S. export controls and sanctions update and the implications of U.S.-China trade tensions on businesses in Asia

25th September 2023 What businesses in Asia need to know in light of the recent export and sanctions developments and the US-China trade tensions

ITR World Tax promotes WTS Taxise to Tier 3 (Tax); retains its Transfer Pricing recognition and recognises WTS Taxise Partners as Highly Regarded Tax Leaders

25th September 2023 31 Aug 2023, Singapore – WTS Taxise has once again been recognised by International Tax Review (ITR) World Tax in its 2024 edition as among the leading firms for International Tax and Transfer Pricing in Singapore.

WTS Taxise among Asian Legal Business’ 2023 Singapore Firms to Watch

25th September 2023 14 Mar 2023, Singapore – Taxise Asia LLC (WTS Taxise) has been recognised as among Asian Legal Business’ (ALB) Singapore Firms to Watch in 2023.

WTS Taxise strengthens trade, compliance and transfer pricing practices with the arrival of senior consultants Karmi Leiman and Christine Schwarzl

25th September 2023 11 September 2023, Singapore – WTS Taxise is pleased to welcome Karmi Leiman, international trade and compliance specialist, and Christine Schwarzl, transfer pricing specialist who have joined the firm as Consultants.

Singapore Budget 2023 – Building up our Capabilities and Competitiveness as a Nation

25th September 2023 Budget 2023 was delivered by Deputy Prime Minister of Singapore and Minister for Finance, Mr. Lawrence Wong, to the Singapore Parliament on 14 February 2023.

Update on tax developments in Singapore

25th September 2023

1. In relation to digital transactions and e-commerce, what are the latest tax developments in Singapore?

IRAS published comprehensive guidance on GST rate change

25th September 2023 The Inland Revenue Authority of Singapore (IRAS) has recently published comprehensive guidance regarding the upcoming Goods and Services Tax (GST) rate change from 8% to 9%, which will take effect on 1 January 2024.

Pillar Two – Implementation Status Overview Worldwide

25th September 2023 The country-specific information shown in the overview reflects the latest legislative updates, which we collect from our tax experts on a monthly basis. Last update: 30 May 2023 See the full article here.

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WTS Taxise bolsters Transfer Pricing practice with the addition of Adnan Begic as Senior TP Specialist

3rd March 2023 WTS Taxise has bolstered its Transfer Pricing (TP) practice through its cooperation with Adnan Begic as Senior TP Specialist & Consultant. Adnan’s expertise further builds on the growing TP offering of WTS Taxise and WTS Global in Asia Pacific.

Legal 500 Asia Pacific promotes WTS Taxise to Tier 2; Co-Founding Partners as Leading Tax Individuals

24th January 2023 Taxise Asia LLC (WTS Taxise) has been promoted by Legal 500 Asia Pacific to Tier 2 from Tier 3 for Singapore Tax in its 2023 rankings. Co-Founders and Principals Eugene Lim and Irving Aw have also been ranked Leading Tax Individuals this year. Associate Principal and Transfer Pricing Leader Molvin Yiu, meanwhile, has been named Next Generation Partner. In this latest edition of the legal publication, WTS Taxise is the sole law firm with the most number of tax practitioners ranked in the leading lawyers and next generation partner rankings in Singapore.

Tax treatment of ship pooling arrangements

11th January 2023 Ship pooling arrangements have become more common as shipowners seek greater efficiencies in the deployment of their vessels. In advance ruling summary no. 15/2022, the Singapore tax authorities have clarified Singapore’s tax treatment of cross-border ship pooling arrangements that are managed out of Singapore.

Post-pandemic Asia Pacific: Taxation fast lanes and speed bumps

11th January 2023 Post-Covid Asia Pacific recovery promises new opportunities for businesses. However, the need to replenish coffers, the changing international tax and geo-political landscape will pose challenges for tax regulators and tax leaders.

Irving Aw wins 2022 Lexology Client Choice Award for Corporate Tax – Singapore

11th January 2023 Lexology has named WTS Taxise Principal and Co-Founder Irving Aw as the exclusive winner of the 2022 Client Choice Award for Corporate Tax in Singapore. Established in 2005, Client Choice recognises individuals that stand apart for the excellent client care they provide and the quality of their service. The criteria for this recognition focus on an ability to add real value to clients’ business above and beyond other players in the market. Uniquely, lawyers can be nominated only by corporate counsel, with this year’s winners chosen from a pool of more than 2,000 individual client assessments.

Chambers Asia Pacific 2023 promotes WTS Taxise to Band 3; recognises Co-Founding Partners as leading and up-and-coming tax lawyers

11th January 2023 Taxise Asia LLC (WTS Taxise) is delighted to have been promoted to Band 3 for Singapore Tax in the Chambers and Partners Asia Pacific 2023 publication. This is the second consecutive year WTS Taxise has been ranked by Chambers alongside leading tax law firms in Singapore.

WTS Taxise garners new rankings in ITR’s 2023 World Tax and World Tax Leaders; maintains accolade in ITR’s 2023 World Transfer Pricing

3rd October 2022 WTS Taxise has garnered new firm and practitioner rankings in International Tax Review's (ITR) 2023 World Tax, World Tax Leaders and maintained its ranking in ITR's 2023 World Transfer Pricing.

WTS Taxise receives multiple recognitions in the 2022-23 editions of Asialaw and Best Lawyers

3rd October 2022 Taxise Asia LLC (WTS Taxise) has received multiple recognitions in the 2022-23 edition of Asialaw and Best Lawyers annual publications. These mark the firm's inclusion in the Asialaw rankings for the third year and Eugene Lim's Best Lawyers practitioner rankings for seven years (pre-Taxise).

WTS Taxise wins Best Newcomer Award at the ITR Asia Pacific Awards

7th September 2022 Taxise Asia LLC (WTS Taxise) has won Best Newcomer Award at the 22^nd International Tax Review (ITR) Asia Pacific Awards 2022.

WTS Taxise ranked in Legal 500 Asia Pacific’s 2022 Leading Law Firms for Singapore Tax

7th September 2022 Taxise Asia LLC (WTS Taxise) has been ranked Band 3 for Singapore Tax in the 2022 edition of Legal 500 Asia Pacific. This latest recognition marks the Firm’s entry into the Legal 500 rankings for the first time. This also comes on the back of the Firm’s Chambers Asia Pacific 2022 rankings for Singapore Tax [read more – Chambers Asia Pacific recognises WTS Taxise as among 2022 leading tax law firms and lawyers in Singapore]. WTS Co-Founders and Principals Eugene Lim and Irving Aw have also been recognised as Recommended Lawyers for Singapore Tax.

Eugene Lim, Co-Founder and Principal of WTS Taxise wins International Trade Lawyer of the Year award

7th September 2022 Please join Taxise Asia LLC (WTS Taxise) in congratulating Eugene Lim for being named 2021 International Trade Lawyer of the Year by The Asian Lawyer.

Seasoned tax litigator joins WTS Taxise to bolster its tax disputes practice

7th September 2022 Taxise Asia LLC (WTS Taxise) is pleased to announce the arrival of Ma HanFeng. HanFeng is a Singapore-qualified lawyer with more than a decade of litigation experience including at the law division of the Inland Revenue Authority of Singapore (IRAS) where he represented IRAS in a wide range of tax dispute matters. Click here to view HanFeng’s profile.

Legal Developments

Managing tax disputes effectively: an ex-IRAS tax litigator offers practical tips and suggestions for businesses

27th October 2022 Broadly speaking, there are three main ways in which a tax dispute can arise. First, there may be different interpretations of the tax laws in question. Second, there may be disagreement in terms of how the tax laws are applied to the facts of the case. Third, there is disagreement on how the facts are construed and characterized. Due to these uncertainties in the area of tax, it is not uncommon for tax disputes to arise between a company and the tax regulator. If not managed properly, a tax dispute may lead to serious consequences for both the company and the key personnel involved.