Equity Partner
- LLB (Hons) NUS
Advocate and Solicitor, Singapore
Attorney and Counsellor of the State of New York
Contact Information:
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Practice Areas:
Family, Probate & Trusts Practice, Private Wealth, Trusts & Charities Practice, Tax Practice
Stacy says
Why Tax?
"No one wishes to pay more than his own fair share. The challenge is in determining the appropriate fair share in each case.”
Why Private Wealth &Trusts?
“Growing up in an extended family with three grandmothers, I understand how delicate and difficult it is to maintain harmony and I appreciate the importance of proper estate and succession planning. It is truly a privilege to be able to help families with their estate planning."^
She commenced practice in 1995 and has more than a decade’s experience specializing in tax and trust laws. Stacy is listed in the Who’s Who Legal Singapore for Corporate Tax and in Best Lawyers – Singapore in the specialties of Tax & Trust and Estates. She is also recommended in The Practical Law Company’s Which Lawyer? – Singapore in the area of Tax practice and listed as a Leading Practitioner in the Private Client practice.
She is a member of the Tax Advisory Committee of the Singapore Ministry of Finance.
Stacy is fluent in both English and Mandarin (and conversant in Cantonese) and she advises on the full spectrum of tax and trust laws. Her practice includes:-
- Tax Advisory: providing tax planning and structuring advice (i.e. Income Tax, GST, Stamp Duty and Property Tax) for a wide range corporate transactions and assisting in applying for tax incentives.
- Tax Dispute Resolution/Tax Litigation: obtaining tax rulings/settlements from Revenue on behalf of clients on a multitude of matters and litigation on behalf of clients in appeals against tax assessments by the Revenue.
- Private Wealth & Trusts: setting up Trusts for local and foreign clients for commercial as well as private family/ charitable purposes.
- Charities, Foundations & NPOs: advising Charities, Foundations and Non-Profit Organizations (NPOs) on tax and regulatory matters.
1. Tax Advisory & Tax Dispute Resolution
- Acted as Tax Advisor/Counsel to one of the largest property developers in Singapore in an income tax appeal on the deductibility of borrowing expenses, prepayment penalty and guarantee expenses and obtained a landmark decision in favour of clients at the Singapore Court of Appeal. Prior to this decision, all borrowing costs incurred in connection with loans obtained by taxpayers (other than interest expenses incurred in certain situations) were always disallowed by the Singapore tax authority
- Acted as Tax Advisor to United Overseas Bank (UOB) in its divestment of its life insurance business to the Prudential Group for $428 million.
- Acting as Tax Advisor to a financial institution in the planning and restructuring of a prime commercial property development and investment project
- Acting as Tax Counsel to Fortune 500 company on various income tax disputes with the Singapore Tax Authority
- Advising global trading group headquartered in Japan on Singapore tax incentives for their Singapore operations and investments
- Acted as Tax and Corporate Counsel to Axia NetMedia (as the consortium lead of the IntelliNet Consortium, formed by Axia NetMedia and the Cisco Capital group) for the submission of a bid for operating the Singapore Next Generation National Broadband Network
- Acted as Tax Counsel to a film production and talent management group headquartered in Singapore for seeking special tax incentives and developing a tax efficient group structure for the financing, production and distribution of slates of films
- Advised a public-listed company on its tax dispute with the Singapore tax authority on the taxability of their gains arising from venture capital investments and obtained a total tax refund amount to S$2.5 million
- Advised one of Southeast Asia’s largest life insurance company (owned by a leading international insurance and financial services organization based in USA) on the deductibility of its losses and capital allowances
- Advised a leading financial institution arranging the issuance of notes for financing a multi-billion tourism/convention centre project in Singapore
- Advised an Australian financial institution on a structured finance transaction with a Singapore financial institution for the raising of more than AUS600 million term funding
- Advised one of the largest private property developer in Singapore on the issuance of S$210 million notes
- Advised on the taxability of gains from the disposal of shares investment held by an investment holding company of a major financial institution in Singapore
- Advised an investment house on their multi-million investments in a leading healthcare solution specialist in the Asia-Pacific region
- Advised an asset management group on the disposal of their multi-million investments in an F&B business to an SGX-listed company
- Advised an international luxury brand Group based in Europe on the stamp duty exemptions applicable in connection with its worldwide group reconstruction
- Advised the minority shareholders in connection with their dispute with the majority shareholders in a family investment holding company and their exit by way of a capital reduction, achieving substantial tax savings
- Advised the majority shareholders in the restructuring of the company prior to listing on SGX, achieving significant tax savings
- Advising one of Canada’s largest fund managers on the tax incentives applicable to the fund management and offshore funds in Singapore
- Advises on GST implications on a wide range of transactions (including sale of business, supply of services, zero-rating of international services, sponsorships and gifts, research grants, applicability of special GST schemes etc.)
2. Private Wealth & Trusts & Charities, Foundations & NPOs
- Advises high net worth individuals/families in and outside Singapore on the establishment of family trusts, family offices, charitable trusts and foundations. For example:-
- Advised an ultra high net-worth individual and founder of a SGX-listed company in setting up a family trust
- Advised several ultra high net worth Indonesian families on estate planning including the establishment of family trusts
- Advised one of the founders of a successful hi-tech company with global operations in setting up a family trust
- Advised a high net worth individual in setting up a foundation in memory of her deceased spouse for funding charitable causes including
cancer research
- Advised the executors of a prominent high net-worth individual in the administration of his estate and the establishment of 2 charitable trusts
- Advised a prominent Indonesian family on the establishment of their family office in Singapore
- Advised European, South American and Asian clients in establishing Foreign Trusts Regime in Singapore
- Advised a leading private bank based in Switzerland in setting up its private wealth management operations in Singapore
- Advising a leading private bank based in Switzerland and a trust company based in Europe in setting up their respective trust company business in Singapore
- Advised a prominent global US-based insurance company on tax and trust issues relating to the operation of its approved pension/provident trust fund for its employees
- Advised one of the world’s largest petroleum company on tax and trust issues arising from the operation, amendment and termination of its approved pension/provident trust fund
- Advised on the establishment of a Singapore holding company limited by guarantee with the object of promoting the sustainable development of a province in a foreign country affected by the effects of mining activities
- Acting for several foundations, non-profit organizations (NPOs) and charities (including Greenpeace, the International Rice Research Institution, the Goh Keng Swee Foundation, the British Council, the Special Needs Trust Company, the Management Development Institution of Singapore) on issues relating to establishment, tax efficient structuring, tax incentives, compliance and/or fund-raising
- Advising an SGX-listed company in the global hospitality business on the setting up and the operation of its Corporate Social
- Responsibility arm for the purposes of carrying out charitable, benevolent or philanthropic activities
- Advised international trade associations in obtaining special tax exempt status
- Advised and assisted foreign high net worth individuals and families in applying for Singapore permanent residency status.
- Member, Singapore Academy of Law
- Member, Law Society of Singapore
- Member, Tax Advisory Committee (Singapore Ministry of Finance)
- Member and Officer of the Individual Tax and Private Client Committee, International Bar Association (IBA)
- Member, Inter-Pacific Bar Association (IPBA)
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