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Doting father and fitness enthusiast, Yoong Wai Lum, Manager in Corporate Tax Advisory

02 January 2023

As we have grown over the past 5 years, we have asked some of our employees to share their story at Thannees Tax Consulting Services.

 

In this series, we would like you to get to know Wai Lum, a manager in our corporate tax advisory team.

 

1. What prompted you to join Thannees Tax Consulting Services?

When I first attended the Virtual Sharing Session on Transfer Pricing organised by Thannees Tax Consulting Services in mid-2021, it was somewhat different compared to a lot of seminars I’ve attended before this. I found the speakers were knowledgeable, well-informed on tax matters, engaging and smart. After attending a few more seminars by Thannees Tax Consulting Services, this prompted me to find out more about the company. As I was impressed with the founder’s background and the consistency of the company in publishing quality content in the public domain, I knew Thannees Tax Consulting Services will be a place where my experience can be utilized and further developed.

 

2. What does a typical day in your manager role looks like?

Typically, the role consists of a wide range of duties working on complex domestic and corporate tax transactions. On a day-to-day basis, I am responsible for project management and delivery of multiple client engagements, including, identification of issues and opportunities, research, and preparation of advice on complex tax matters. This would involve proactively building an understanding of client’s needs and working with our team to develop strategies to meet those needs. For each engagement, I meet up with clients gather information, present our findings, and recommend solutions. Apart from carrying out technical work, I am also involved in pitching our services to potential and existing clients.

 

3. Tell us about some of your proudest moments at Thannees Tax Consulting Services.

One of the proudest moments at the company is when my team and I managed to defend and reduce our client’s tax liabilities significantly by more than 50% in a tax audit investigation. I learnt that choosing the right approach, teamwork and having a good understanding of the tax statutes helped us get through this case with the authorities.

I was thrilled to be given the opportunity to present in a public virtual seminar with our managing director on issues surrounding capital statements. Prior to this, I was neither a fan of public speaking, nor did I have any experience in presenting to the public. When the opportunity arose, I took up the challenge and through the guidance of Mr Thannee, I was able to deliver an informative the virtual sharing session.

 

4. Outside of Thannees Tax Consulting Services, what keeps you busy?

Over the weekends, I like to get out and be with nature. As a first-time parent, I try to head to the park every weekend or attend classes with my son (i.e., swimming, baby sensory, jungle gym, etc.). It’s a good way for me to refresh and reset before tackling the following work week, and a great way to get some exercise. During my spare time, I enjoy running and going to the gym to stay healthy.

 

5. Please share any advice you have for those who would like to pursue a career in taxation at Thannees Tax Consulting Services.

If you are passionate about tax, Thannees Tax Consulting Services would be an ideal place to develop your technical skills as you will be working closely with a diverse, young, energetic and experienced team together with our managing director. Additionally, if your goal is to be diversified in terms of tax experience, you will be given the opportunity to be involved in a variety of tax cases ranging from incentive applications, tax audit cases, transfer pricing assignments, etc. Thannees Tax Consulting Services also invests in a lot on reading materials, online subscriptions and databases to ensure we are able to keep abreast with the latest tax updates.

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