The Wolf Group is pleased to announce a joint venture with The Iyer Practice, a highly regarded professional accounting and business consulting services firm in Singapore. The Iyer Practice, also a Nexia member firm, has been in Singapore for 17 years, serving primarily international clients. The newly established joint venture, Wolf Iyer, LLP, will provide top quality U.S. and Singaporean income tax planning and compliance services to U.S. expatriates living and/or working in Singapore, and the multinational companies and international organizations that employ them.
Due to the British legacy, English has become the language of business and administration, and remains today the common language spoken by nearly everyone in Singapore. Today, Singapore is the world’s busiest port, with over 600 shipping lines, and a center of shipbuilding and oil refining/distribution, a major supplier of electronic components, and a major player in the Asian financial services industry. Approximately 36% of Singapore’s total population are foreigners and there are about 20,000 Americans living in Singapore. Considering this, we believe Singapore is a great place to kick off our global expansion.
The Wolf Group’s Senior Tax Specialist, Anika Kim, traveled to Singapore in August to lay the groundwork for the office and get the operation underway. In Singapore, Anika met with representatives from the American Chamber of Commerce and American Association of Singapore, two well established organizations serving the American expatriate community and American businesses, which provided ample opportunities for her to meet people from different backgrounds and professions including government officials, small business owners, international organization employees and corporate employees.
The Wolf Group and The Iyer Practice bring compelling attributes to Wolf Iyer. The Wolf Group has established a global reputation over 25 years of providing specialized, international and expatriate tax services to non-U.S. citizens with American interests, as well as Americans with foreign interests. The Iyer Practice is one of the premier firms in Singapore specializing in serving the international business and expatriate community. We believe that together as Wolf Iyer, we offer substantial competitive advantages to our clients in the Asia-Pacific region.
This newsletter is for informational purposes only. It should not be construed as tax, legal, or investment advice. Information has been gathered from sources believed to be reliable, but individual situations can vary and you should consult with your investment, accounting and/or tax professional.
ANY TAX ADVICE IN THIS COMMUNICATION IS NOT INTENDED OR WRITTEN BY THE WOLF GROUP TO BE USED, AND CANNOT BE USED, BY A CLIENT OR ANY OTHER PERSON OR ENTITY FOR THE PURPOSE OF (i) AVOIDING PENALTIES THAT MAY BE IMPOSED ON ANY TAXPAYER OR (ii) PROMOTING, MARKETING OR RECOMMENDING TO ANOTHER PARTY ANY MATTERS ADDRESSED HEREIN.
