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Emerging Asian Law Firms Initiate Collaboration to Support Cross-Border Business

In a move to facilitate seamless advice to clients, particularly for cross-border business operations for clients with business needs across Asia, five emerging law firms with growing market presence in key markets Singapore, multiple locations in China, Indonesia, Malaysia — Taxise Asia LLC, GEN Law Firm, Anagata Law Firm (by Riza Buditomo), SNP Law Firm and Hsian & Co — have announced that they will collaborate with each other, to help clients navigate the rapidly changing pan-Asian business and regulatory landscape. “China, Indonesia, Malaysia, and Singapore are set to drive Asia’s economic growth by leveraging their unique strengths and strategic significance amid uncertainties and political tensions globally,” said Taxise Asia Founding Principal Eugene Lim. “Singapore’s status as a premier regional headquarters base and global financial center ensures seamless cross-border operations and investment flows.” Gen Law Firm Managing Partner He Jing commented, “China, as a global economic powerhouse, not only drives demand but also influences supply chains and investment trends through its evolving regulatory landscape and outbound investment strategies. We expect to assist both companies looking to expand into China as well as Chinese headquartered companies looking to invest overseas.” Anagata Law Firm Managing Partner Riza Buditomo added, “This collaboration plays a critical role in providing the expertise and connections needed to navigate the complexities of these markets, enabling businesses to align strategies, mitigate risks, and thrive in today’s interconnected economy.” Hsian & Co Managing Partner Yong Hsian Siong commented, “Malaysia’s advanced manufacturing capabilities and position as a key hub along global trade routes continue to attract foreign direct investment (FDI).”  Yogie Sugiharto, Managing Partner of SNP Law Firm highlighted, “Indonesia, with its vast consumer base and abundant natural resources, offers immense potential for manufacturing, production, and market expansion.” This collaboration will enable comprehensive services offerings to clients, investors, and/or companies by providing multi-jurisdictional representation to address challenges and complexities of doing business across Asia in 2025 and beyond. “By sharing our expertise, common values and strengths, we can provide localised legal advice with an international perspective to clients globally to adapt their business strategies to navigate major geopolitical uncertainties, including the imposition of tariffs and sanctions resulting from US-China trade tensions, as well as expansion by clients into new markets,” observed Eugene Lim. What Sets This Collaboration Apart This collaboration offers a unique approach compared to other regional law firms: Prominent Legal Experts: The collaboration is powered by leading lawyers who are highly respected in their markets for their deep expertise and strategic insights. Many of these professionals have been instrumental in shaping the legal landscape of their respective jurisdictions, and regularly assist foreign clients on their business needs. Independent but Aligned: A network of boutique firms that combine deep local expertise with seamless cross-border collaboration. Tailored Solutions: Personalised legal services that address local regulatory and cultural nuances while delivering regional cohesion. Best of Both Worlds: Clients benefit from localised attention and a unified regional reach, ensuring comprehensive and efficient solutions. Key Practice Areas The collaboration focuses on five key practice areas crucial to cross-border business: Corporate and Transactions: Providing tailored legal solution to clients in both domestic and foreign-related commercial matters, including company formation and restructuring, operational compliance, dispute prevention, equity investments as well as cross-border mergers & acquisitions. Intellectual Property: Offering robust protection and enforcement strategies for intellectual property rights in diverse markets. Real Estate: Delivering tailored advice on real property investments, acquisitions, and divestitures, and complex, high value transactions across jurisdictions. International Tax & Customs: Assisting businesses in navigating complex and ever-changing tax and customs regulations and optimising tax & customs strategies in multiple jurisdictions. We guide businesses on fiscal and non-fiscal regulations, duties, taxes, and the penalties and consequences of non-compliance, including Indirect Tax, such as those related to VAT/GST and import taxes. International Trade: Supporting companies in various industries on regulatory & compliance, supply chain efficiency, trade agreements, export/import risk, tariff preferences (reducing international trade costs), trade remedies (anti-dumping), and dispute resolution in global trade. Antitrust & Competition: Offering a comprehensive range of legal services to help clients navigate antitrust laws and ensure compliance. We assist with merger clearance, competition compliance certifications, and structuring business processes to adhere to competition law. We also represent clients in antitrust investigations. Financing and Financial Services Regulatory & Compliance: Assisting financial institutions with financial regulatory, compliance, governance issues for structured finance, leveraged finance and other corporate finance instruments. Energy, Project & Infrastructure: Advising investors in energy project transactions throughout the project cycle. About the Collaborating Firms Each collaborating firm brings decades of experience and a proven track record in delivering high-quality legal services within their respective jurisdictions. The firms are led by lawyers renowned for their expertise and their ability to navigate complex legal challenges with precision and creativity. Collectively, they represent a trusted choice for companies seeking a reliable and comprehensive legal partner in Southeast Asia. Taxise Asia LLC (WTS Taxise) is a leading boutique Singapore 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, Taxise Asia offers practical and audit conflict-free objective advice on complex local and international tax and international trade matters drawn from its unique mix of professionals with law firm, in-house, income tax tribunal, academia and international organisation experience. WTS Taxise is the sole member firm in Singapore of WTS Global, a leading global tax network. Visit www.taxiseasia.com and WTS Taxise LinkedIn. GEN Law firm is a leading legal practice with over 20 years of experience serving prominent industry players in China and internationally. The firm specialises in dispute resolution, intellectual property, corporate and commercial, M&A and transactions, and compliance and regulatory affairs, including areas like antitrust, data privacy, and anti-corruption. By uniquely applying legal methodologies to public affairs, GEN Law Firm effectively manages complex and challenging issues across a wide range of sectors such as automotive, finance, telecommunications, pharmaceuticals, and more. Trusted by top global firms, GEN Law Firm's practitioners are routinely entrusted with high-stakes courtroom cases, highlighting the quality and expertise they are known for. Visit www.genlaw.com Anagata Law Firm (by Riza Buditomo) is an Indonesian full-service law firm with core practices in tax, customs, trade, and antitrust & competition. Anagata also regularly handles corporate commercial, mergers and acquisitions, and intellectual property matters. Founded by a dynamic team of forward-thinking partners with decades of experience, Anagata is well-equipped to assist businesses in expanding into both established and emerging markets. Anagata's team of lawyers possesses the expertise needed to navigate multiple legal systems, ensuring effective handling of complex legal and business challenges. Visit www.anagatalaw.com (Website), anagata.lawfirm (Instagram) and Anagata Law Firm (LinkedIn) SNP Law Firm is an Indonesian corporate law firm established by practitioners who have been recognised for their extensive experiences in representing clients across various industries, from multinational corporations to emerging growth entities. SNP delivers high quality & comprehensive legal solutions with strong expertise in M&A, financing and financial services regulatory & compliance, and energy, project & infrastructure. By deeply understanding the client’s business and industry intricacies, SNP provides tailored strategic insights and business-oriented legal solutions. Hsian & Co is a Malaysian corporate law firm focusing on corporate M&A and corporate real estate transactions, reflecting the key areas of experience of the founder. The firm assists mainly foreign clients with high-value, complex matters, and is able to assist with all parts of a client’s business requirements, from incorporation, to acquiring assets and properties, and assisting with regulatory and operational issues such as licencing, employment, and operational documentation. Transactions include amongst others, acquisitions, disposals, restructurings, joint ventures, take-overs and from the corporate real estate perspective, the firm has experience working on complex transactions involving all classes of real estate (industrial, commercial and residential) as well as other structures such as joint development transactions, build-to-suits, and hospitality transactions. Visit www.hsianco.com (file:///C:/Users/Wina/Downloads/www.hsianco.com).
24 January 2025
Press Releases

The 7th edition of the Transfer Pricing Guidelines

The Inland Revenue Authority of Singapore (IRAS) released the 7th edition of its Transfer Pricing Guidelines on 14 June 2024.To assist taxpayers to understand the changes and assess their impacts, WTS Taxise Associate Principal Christine Schwarzl summarises, in this article, the main changes to the guidelines, including: i. Financing transactions Changes to TP Documentation (“TPD”) preparation exemption for domestic related party loans entered into from January 2025; Inclusion of Frequently Asked Questions (FAQ) and TPD guidance for long-term loans; and Guidance on the application of base reference rates in determining interest rates. ii. Capital transactions Clarifications of IRAS’s view on the transfer or sale of fixed assets between RPs; and Documentation is not mandatory (but is preferred). III.   Economic analysis Guidance on making working capital (“WC”) adjustments (interest rates to be used, etc.); Guidance on conditions relating to strict pass through costs; and The TP treatment of government assistance. iv. Audits, surcharges, TPD and other changes: Elaboration on the TP audit process; Clarification on the conditions under which IRAS will disregard an actual RP transaction; An understanding of partial or full remission of S34E surcharges; Increase of thresholds and clarification on transaction category aggregation; and Date requirement for completion of simplified TPD. The new TP Guidelines reflects an easing of the compliance burden for taxpayers, where related party transactions fall below the increased thresholds for TPD preparation. However, if your company has related party financing transactions, a transfer or sale of fixed assets, or if you have received government assistance, then you may well be impacted by the changes in the TP Guidelines. To read the full article, click here to download a copy.  
20 September 2024
Press Releases

ITR World Tax recognises WTS Taxise in its 2025 TP, Tax and Tax Controversy rankings

21 August 2024, Singapore – We are pleased to announce that Taxise Asia LLC (WTS Taxise) has been recognised by International Tax Review in its latest ITR World Tax 2025 rankings for international tax, transfer pricing and tax controversy . WTS Taxise Founding Principal Eugene Lim has also retained his “Highly Regarded Practitioner” for Indirect Tax and Tax Controversy. To read the full article, click here to download a copy.  
20 September 2024
Press Releases

Eugene Lim gains promotion from Asialaw as Distinguished Tax Practitioner and retains Tax Leader recognition from ITR

16 September 2024, Singapore – Taxise Asia LLC (WTS Taxise) Founding Principal Eugene Lim is now ranked as a Distinguished Tax Practitioner in the Asialaw 2024 rankings,in addition to continued recognition as a Highly Regarded Tax Lawyer for Tax Controversy and Indirect Tax in the 2025 edition of ITR Tax Leaders. To read the full article, click here to download a copy.  
20 September 2024
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