Shih Hui Lee has advised on both regional and Singapore tax issues, with focus on advising MNCs on international tax aspects of cross-border transactions. Her practice includes advising clients on tax issues arising from mergers and acquisitions, indirect taxes, transfer taxes, foreign direct investment and cross-border tax planning issues.
Prior to joining Baker McKenzie, Shih Hui worked in one of the Big Four accounting firms in Singapore. She has experienced being an in-house regional tax advisor in one of the multinational cable and satellite television channel.
Shih Hui's practice focuses on tax consultancy in international taxation, group and business restructuring, tax controversy and compliance, and mergers and acquisitions.
Representative Legal Matters
Shih Hui works on planning and strategising client’s proposed business structure in a tax efficient manner, which includes transfer of businesses, setting up of presence in Singapore, financing options, permanent establishment risks assessment in foreign tax jurisdiction, stamp duty waiver application in Singapore, Singapore tax incentives discussions, etc. The key client matters include:
- Assisting a publicly listed petroleum and natural gas exploration and production company headquartered in the US to plan and set-up of their financing and sales structure in Asia Pacific region, and review of a broad spectrum of commercial arrangement such as office lease, time charter of specialised vessels, commodity sale arrangement, marketing services agreement etc.
- Assisting US multinational in streamlining the number of entities within the group and in achieving an efficient and effective structure with the recent tax changes in US and Singapore. Explore and consider the tax implications of various options and recommend the most cost and operational effective option of implementing the integration after taking into account the direct tax and stamp duties implications across various jurisdictions in relation to the amalgamation and liquidation of the entities. Plan on the possible re-domiciliation of a foreign entity into Singapore and work on various scenario planning.
- Advising a UK multinational on the reorganisation of its holding structure in relation to its 18 entities in 10 jurisdictions in the region. This includes proposing the reorganised structure that facilitates effective repatriation of funds, the raising of debt finance for the entities involved, provides options for transactions on a standalone basis with certain group of entities, and options for exiting certain markets.
- Assisting a US multinational on its worldwide integration and working on various scenarios planning, including intellectual property holding arrangement, and advising on the possible integration options taking into consideration the business and practical issues, and plan for and implement a viable strategy for that would be sustainable from a business perspective.
- Assisting a US multinational to resolve its historical issues and queries and achieve the best possible outcome in relation to its Singapore tax audit and working on voluntary disclosure to the Singapore tax authorities.
- Assisting a US multinational group of entities in identifying their potential non-compliance in reporting of their employees' remuneration and working on voluntary disclosure to the Singapore tax authorities in seeking reduced penalties for the incorrect reporting. This includes seeking the Singapore tax authorities' approval on the companies' approach in tracking and reporting the remuneration in the future.
- Assisting a UK group in identifying transactions that the entities have incorrectly use of the major exporter scheme status in importing goods into Singapore and working on voluntary disclosure to the Singapore tax authorities in seeking reduced penalties for the non-compliance and more importantly to mitigate any risk of the major export scheme status being revoked.
- Advising US multinational on restructuring its business to a local buy-sell arrangement in 9 jurisdictions in the region. This includes proposing the reorganised structure that facilitates effective repatriation of funds and mitigates tax and regulatory issues.
- Assisting US multinational in their business expansion into China and application for an operating business license locally. This involves the migration of a certain portion of our client's business operation from Singapore to China and regular discussions with the client's legal counsels, operational team to strategically plan the probable business structure/expansion in China without creating adverse Singapore tax consequence. It also requires consideration of the current business model, existing tax incentive and agreements that may be impacted by the potential business changes.
Professional Associations and Memberships
- Institute of Singapore Chartered Accountants - Member
- SIATP - Accredited Tax Practitioner
- Nanyang Technological University (Bachelor of Accountancy , Honours)