Expert Guides Tax - ITR 2020

THOUGHT LEADERSHIP ASIA PACIFIC
S I N G A P O R E
outcome cannot be reached, your client will understand that you have
done your best. I have personally worked on many situations in which
a seemingly “impossible” tax outcome was achieved after my clients
took a chance with me to pursue the “impossible”. Don’t underestimate
your ability to pursue the impossible and make a difference. Importantly,
you should continue to maintain integrity and professionalism
as you seek to achieve these outcomes.
Analytical mindset and sound judgement
An analytical mindset and the ability to process think is helpful in our
profession. By process thinking, I mean, having the ability to not just
think about the obvious issues on hand, but also about the “invisible”
issues that should be addressed, Further, the ability to make a judgement
call and to break down the issues into small steps and address the tax
implications at each step to arrive at an optimal tax solution will
definitely serve your clients well and position you as a preferred advisor.
Humility and mentorship
Our profession is one where we are stewarded and mentored by our predecessors.
The guidance received from our seniors has helped us to achieve
the successes we have today. Therefore, be humble and modest of your
achievements and spend time to steward and mentor the next generation.
Leave a memorable legacy by coaching and mentoring the younger
generations and this would definitely be deeply appreciated. It is not
fear but joy when our juniors exceed our own abilities. This is something
to be proud of.
Confidence
As advisors, we need to engender trust in our clients and the tax regulators.
As such, we must be confident – not only in the quality of the
work we deliver, but also in the way we hold ourselves up to our clients,
the tax regulators and our team.
Work ethic
Our profession is known to be one involving long hours. We must treat
our colleagues with respect and we must dedicate ourselves to our work
to deliver our promises to our clients.
Our work ethic must be true to our profession and to our people.
While personal life is important, professional life is also equally important.
How we manage our personal and professional lives and strike a
healthy balance between the two is integral to our success. I am happily
married and a mother of five children. This is testimony that you can
achieve success at home and at work too.
Teaming and building relationships
Our success in our profession is not solely due to our individual efforts
only. It is the collective efforts of our team that make us successful.
Therefore, teaming and the ability to lead a team towards success is key
to our overall success.
Spending time to connect and invest in new and existing relationships
with your peers and clients is a must. Building these relationships is
important, not just to facilitate work but also to enrich your life, both
professionally and personally. Over the years, I have converted many of
my business relationships into friendships and very proud that I have
many colleagues and clients whom I now regard as friends.
Business mindset
I recall being asked before whether, as tax advisors, we are the equivalent
of the “samurai” or the “merchant”. I believe we are both. Like
the samurai, we are expected to serve in a certain way that represents
honour, nobility and service. At the same time, we are also like the
merchant supplying services.
Stewardship
Our job is to take good care of what we have, whether it is our practice
or our tax function, and leave it in a better state to the next generation
than when we inherited it. The importance of stewardship cannot be
undermined.
Conclusion
Finally, I urge you to dare to dream. Whether you are just starting your
career or in the middle of it, you must set your goal to be the best that
you can be in your profession. Only then will you be able to achieve
your dream.
I hope my sharing is helpful in your journey to becoming a trusted
tax advisor.
The writer is EY Asia-Pacific Tax Policy & Controversy Leader and Partner, Tax Services
at Ernst & Young Solutions LLP.
The views reflected in this article are the views of the author and do not necessarily
reflect the views of the global EY organisation or its member firms.
TAX EXPERTGUIDES 17