Screening: THE PRICE WE PAY
October 26, 2018 @ 7:00 pm - 9:00 pm
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$6 – $30
Dir. Harold Crooks
Documentary / 2014 / Canada / 93 mins / English / PG
The Price We Pay is inspired by Brigitte Alepin’s book La Crise fiscale qui vient. Director Harold Crooks (who co-directed Surviving Progress with Mathieu Roy) blows the lid off the dirty world of corporate malfeasance with this incendiary documentary about the dark history and dire present-day reality of big-business tax avoidance, which has seen multinationals depriving governments of trillions of dollars in tax revenues by harboring profits in offshore havens. Tax havens, originally created by London bankers in the 50s, today put over half the world’s stock of money beyond reach of public treasuries.
This well-crafted documentary from director Harold Crooks offers a concise, engrossing and occasionally infuriating overview of the ways multinationals avoid taxes by stashing profits in offshore havens — and in the process, according to several onscreen interviewees, seriously undermine the ability of governments to provide services and safety nets for citizens. Full review here.
– Joe Leydon, Variety
Nation states are being reshaped by this offshoring of the world’s wealth. Tax avoidance by big corporations and the wealthy – citizens of nowhere for tax purposes – is paving the way to historic levels of inequality and placing the tax burden on the middle class and the poor. Crusading journalists, tax justice campaigners and former finance and technology industry insiders speak frankly about the accelerating trends that are carrying the Western world to an unsustainable future.
POST-SCREENING PANEL DISCUSSION
The screening will be followed by a panel discussion with industry experts, moderated by Prof. Sum Yee Loong.
Professor of Accounting (Practice), Singapore Management University
Prof. Sum Yee Loong has specialised in taxation since qualifying as an accountant in the UK. He has over 25 years of experience in Singapore taxation.
Prof. Sum has substantial experience serving multi-national companies and local corporate clients including financial institutions, providing advisory tax services to these corporate clients. His specialties include corporate structuring & restructuring, restructuring for IPO, acquisition &mergers and international tax planning. He was active in providing strategies and leading tax review teams to create and identify tax saving opportunities for both corporate and individual clients. He also advises and provides tax opinions on cross-border transactions and structured finance.
Prof. Sum had been nominated on several occasions as one of the top 10 leading Tax Advisers in Singapore by International Tax Review. He is also featured as one of the World’s Leading Tax Advisers in the Legal Media Group 2011 Guide to the World’s Leading Tax Advisers.
Prof. Sum was tax partner in Deloitte Singapore from 1987 and retired in 2011 when he joined SMU as Professor of Accounting(Practice). He is Board Member of Inland Revenue Authority of Singapore, Council Member of Singapore Art Council, Board Member of Singapore Institute of Accredited Tax Professionals, Council Member of Professional Education Council of Singapore Accounting Commission and Chairman of the Curriculum and Examination Development Board of Singapore Tax Academy.
Senior Vice President & Head of Group Tax, DBS Bank
Currently Head of Tax at a financial institution in Singapore, Chang Yew is responsible for driving the Group’s tax policies, managing tax risks and overseeing the day-to-day tax advisory and compliance activities. Prior to this, Chang Yew has held various tax roles within the banking sector. His tax experience started with almost decade’s service in tax administration and policy work at both the IRAS and the MAS, as well as time spent on providing tax advisory services in an international accounting firm.
Chang Yew is a tax committee member on a number of Associations and Chambers of Commerce, and he is also represents the industry on some of IRAS roundtable dialogues. He is our FCCA, a Singapore Accredited Tax Advisor as well as Chartered Accountant (Singapore).
Partner & Head of Tax Services Singapore, Grant Thornton, CA ANZ
Lorraine has more than 30 years of experience advising on taxes in the UK, Malaysia and Singapore. She has led tax practices across the full range of tax services and specialises, herself, in indirect taxes and transfer pricing,
Lorraine moved to Singapore with Grant Thornton in January 2016 and was appointed Head of Tax, Singapore, in July 2017. Her focus lies in advising on risk management, business transformation, supply change and value chain management.
Lorraine is a regular speaker at conferences throughout the world, contributes to many webinars that can been accessed online and is an author of books. She also serves on a panel that briefs The Lord Mayor of London on tax issues that affect commerce between London, the UK and various countries around the world, including Singapore. She has focused on the Middle East and Asia Pacific in recent years.
CFO, Apac, GE Grid
Alexander Joramsa is currently Chief Financial Officer, Grid Solutions, Asia Pacific and China. In this role, Alex partners with the region business leaders in the formulation and execution of business strategy. He is also responsible in driving and monitoring the commercial performance of the overall Region P&L including the management cycle at region level and ensuring proper reporting compliance. In addition, he plays a significant role in the Finance integration and simplification initiatives.
Previously, Alex was the CFO of GE Healthcare – ASEAN in which he is also responsible for driving business structuring venture. Alex joined GE in August 2008 as the CFO of GE Healthcare Medical Diagnostics – Asia / Japan and subsequently became the CFO of GE Healthcare – Korea across all GE Healthcare businesses including distribution, manufacturing and R&D.
Prior to GE, he spent his career with Bristol-Myers Squibb in various roles and countries covering business operations, supply chain, commercial excellence, finance, commercial and compliance. Alex also built his early career with Arthur Andersen responsible for management consulting and auditing and ABN AMRO Bank as Senior Relationship Manager covering financial services and healthcare.
He holds a Master of Commerce in Finance from the University of New South Wales, Australia, and a Bachelor of Economics from the Parahyangan Catholic University, Indonesia.
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