Jack HM Wong is the Director of WHM Consulting Pte Ltd and an Accredited Tax Advisor (Income Tax & GST) in Singapore.
Unlike most typical Chartered Accountants who focus on tax compliance issues and have a historical emphasis, Jack is best known for the tax savings he is able to achieve for his clients through constant
planning, coaching, and ongoing guidance. With more than 25 years of international tax experience, he has assisted over 900 MNCs and high net-worth individuals in providing his step-by-step solutions to solve their business and tax issues.
In addition, he has assisted over 50 foreign MNCs in successfully securing favorable tax incentives from the relevant Singapore Government agencies and has extensive experience in dealing with the Inland Revenue Authority of Singapore with a view to resolving tax disputes on behalf of his clients.
In 2010, Jack received the honor to be named one of the top Notable Tax Practitioners in Singapore by Chambers & Partners.
Jack holds an MBA from Nanyang Technological University, Singapore and an LLM from the National University of Singapore, along with the Bachelor of Laws and Bachelor of Commerce from Murdoch University, Australia.
He is a highly recognized educator in taxation and ethics in Singapore where he is currently conducting CPD courses at both Institute of Singapore Chartered Accountants, the Singapore Institute of Accredited Tax Professionals, and CPA Australia, in addition to a number of tax programs at the undergraduate level in Singapore University of Social Sciences and a few other overseas universities operating in Singapore.
Jack is also a regular speaker at various tax conferences and workshops.
Representative Clients, Cases or Matters
- Assisting a global MNC in the corporate service and benefits business, in coordinating tax and regulatory advice from 14 jurisdictions. This advice facilitated and enhanced the client’s expansion of its business operations throughout the region and provided solutions to many of the client’s compliance issues. The tax and regulatory advice consisted of complex issues in all 14 jurisdictions including but not limited to social, direct and indirect taxation, anti-money laundering regulations, competition regulations, employment law, and financial regulatory requirements.
- Assisting a major digital wireless telecommunication company based in the US to restructure its Asian operations. This involves my advice to the client to consider the appropriate legal vehicle to be used in Singapore taking into account the sensitivity of its Singapore operations; and my assistance in securing favorable tax incentives from the Economic Development Board for my client including Development and Expansion Incentive, writing down allowances on acquired intellectual property and approved cost-sharing agreement.
- Assisting in developing a tax-efficient supply chain structure for a medical device business and assisted a U.S. publicly-traded company in the acquisition of such business from another U.S. publicly-traded company. The transaction involved direct tax, indirect tax, customs advice on structuring and compliance issues in around 40 countries.
- Assisting a global multinational in handling a tax dispute with the Singapore tax authorities regarding the deductibility of certain expenses. The tax liability involved may potentially be in the millions of dollars and is likely to be a landmark decision if the issue is litigated.
- Assisting a financial institution in handling a tax dispute with the Singapore tax authorities regarding the assessability of compensation arising from the loss of confidential information.
- Assisting a Fortune 500 listed company listed in the US in providing ongoing tax advice arising from their existing business operations in Korea, India, and Singapore. These issues include potential tax exposure arising from a permanent establishment in Korea and India, and the availability of mutual agreement procedures pursuant to Singapore’s tax treaties with these countries.
- Assisting a Swiss-based company engaged in the fragrance and flavor industry in examining the possibility of developing a tax-efficient supply chain structure from both a direct tax and indirect tax perspective and securing favorable tax incentives from the Economic Development Board.
- Assisting and advising major US multinational companies in structuring arm’s length inter-company services arrangement.
- Advising a major US multinational company on cross-border tax issues relating to the restructuring of its significant investments outside Singapore. The potentially significant US tax exposure, as well as local Singapore tax issues, had to be considered and dealt with at the same time.
- Assisting a coalition of multinational companies to lobby to the Singapore Ministry of Finance and Economic Development Board for the purposes of further liberalizing certain tax characterization and treatment in Singapore.
- Assisting a major US software company in successfully obtaining a unilateral advanced pricing agreement on its related party transactions from the Inland Revenue Authority of Singapore.
- Assisting a major logistics company on its Singapore Goods and Services Tax (“GST“) issues arising from past transactions with one of its overseas suppliers. This involves negotiating with the supplier the possibility of making a joint submission to the Singapore tax authorities and evaluating the various possible solutions to resolve the issues.
- Advising a Malaysian-based MNC on its Singapore income tax and GST implications for the proposed opening of the sales gallery in Singapore.
- Advising a Singapore subsidiary with its German parent on the Singapore income tax-deductibility of commission payments to be made to its Joint Venture partners in China.
- Assisting a major multinational company in Singapore in the submission of two voluntary disclosure exercises pertaining to its expatriates’ taxable benefits for income tax purposes and its input tax claims for Goods & Services Tax purposes.
- Assisting a major multinational company in Singapore in the submission of voluntary disclosure exercises pertaining to its zero-rated supplies for Singapore Goods & Services Tax purposes.
- Assisting a Singapore finance company in advising the Goods & Services Tax treatment on its contractual relationship with its independent contractors and vendors.
- Assisting a major multinational company in Singapore in the renewal of its Major Exporter Scheme for Singapore Goods & Services Tax purposes.