Tax Academy's 20th Anniversary Speech

Tax Academy's CEO, Mr Dennis Lui, giving the welcome speech at the 20th Anniversary Conference.

The TA Bears have found their way to the conference.

Minister Indranee Rajah, Commissioner of Inland Revenue, Mr Ow Fook Chuen, Chairman of Tax Academy Board, Mr Tham Sai Choy, distinguished speakers, guests, ladies and gentlemen, good morning.

Thank you for joining us at the Tax Academy of Singapore's 20th Anniversary Conference 2026.

Background and Formation of TA

Twenty years ago, in 2006, President Tharman Shanmugaratnam, who was then Second Minister for Finance, gave the opening speech at our launch. I quote: “To serve as a knowledge hub in this field, we need highly skilled tax professionals, top quality research and the presence of international tax institutions. It means enlarging our pool of tax professionals and helping them acquire the complex expertise that is required to function effectively, not only in the Singapore environment but in fast changing international markets.” (See full script here)

What struck me was how clear and enduring that purpose was.

Current Tax Landscape and About the Conference

The environment today is far more demanding.

Take transfer pricing: back in 2006, it was already a complex area for tax authorities and businesses. Today, that complexity is no longer confined to a niche. Tax issues are increasingly critical to business and investment decisions.

This shift is reflected in the very issues on our conference agenda today.

Pillar Two is reshaping compliance and risk. Tax certainty matters more than ever; AI is transforming how tax work is done. And all of this is unfolding against sweeping global shifts in trade, technology, and geopolitics. Tax moves with the world.

Role of Tax Academy and its Relevance

So, what does this mean for Tax Academy of Singapore?

We must go beyond staying current. What sets us apart is how we bring together government, industry, and academia — not as a closed faculty, but as a community of practice. Last year, we delivered more than 100 programmes to close to 10,000 public and private sector participants, helped by more than 100 trainers drawn from IRAS, the Big 4 International Accounting firms, and wider industry.

We created new capabilities in events, marketing, and stakeholder engagement, and invested in digital transformation — including converting some of our core structured programmes to e-learning.

We have grown our international footprint, signing MOUs with partners like the WU Vienna Transfer Pricing Centre, International Fiscal Association (Singapore Branch), CPA Australia, Law Society of Singapore and others. Through these networks, we attracted top international speakers to Singapore; with Dr Achim Pross (OECD) and Professor Robert Danon from the University of Lausanne as examples.

We established STARI — the Singapore Tax Academy Research Initiative with Singapore Management University Yong Pung How School of Law — to build local tax research capability and advance world-class research on issues relevant to Singapore. STARI reflects our belief that we must not only train practitioners but also shape policy conversations. We are honoured to have Professor John Vella,

Professor of Law at the University of Oxford and STARI Distinguished Visiting Professor to deliver our closing keynote lecture.

We all need to stay relevant. Tax Academy exists to help the tax community stay credible, current, and capable in a rapidly changing world.

What’s next for Tax Academy of Singapore?

Tax touches everyone. We are expanding our programmes for non-tax professionals, so that tax awareness becomes even more embedded in how organisations think and make decisions.

We are pursuing targeted partnerships with key ecosystem players. For example, with the Financial Planning Association of Singapore to strengthen tax competency for financial advisors; with the Nanyang Technological University’s Nanyang Business School on the Tax for Towkays Programme for SME owners and C-suite leaders; and with the Law Society of Singapore on a principles-based programme for legal professionals spanning income tax, GST, international tax, stamp duties and dispute considerations.

We are committed to growing the next generation. Working closely with IRAS and the Singapore Chartered Tax Professionals, we are building pathways to attract and develop future tax talent. Today, I am pleased to welcome Tax Academy Next Generation Award recipients to this conference — students with a keen interest in tax.

In July, we will unveil the Tax Academy of Singapore Hub — our new premises at Revenue House. You can look forward to flexible training spaces that can convert from classrooms to exam halls and event venues; fully equipped for hybrid and video conferencing; built for the demands of modern learning and professional exchange.

To conclude, the road ahead is exciting. Tax Academy's role is to build a tax ecosystem that is technically strong, internationally connected, and capable of responding to whatever comes next. Today, we not only celebrate 20 years of growth—we lay the foundation for the decades ahead.

Thank you for being part of this journey. I wish all of you a meaningful and fruitful conference.