EY’s Life Sciences Tax capabilities

Asia-Pacific and Japan

| EY’s Life Sciences Tax practices

Contents

Our global organization and approach to sector

Our Global Life Sciences network

EY’s Life Sciences Tax

and Japan

EY’s Tax services for life sciences companies

Key contacts1919 2021

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2 | EY’s Life Sciences Tax capabilities

Our global organization and approach to sector

People212,000

Countries>150

RevenuesUS$28.7b

(Fiscal year-end 30 June 2015)

Source: http://www.ey.com/GL/en/Newsroom/News-releases/news-ey-reports-2015-global-revenues-up-eleven-point-six-percent

Working with our clients EY refers to the global network of

Limited, whose 212,000 people are the foundation of our success. We assemble the right multidisciplinary teams for your business, drawing on our global network of professionals. Working with you in a collaborative style, we gain a clear understanding of your organization and strive to identify issues before they become problems. You get the people you need, wherever in the world you need them, backed up by leading practices, methodologies and tools.

Building a better working worldEY is committed to doing its part in building a better working world. We believe that, in a better working world, a number of positive

smoothly, investors make informed decisions, businesses grow sustainably, employment rises, consumers spend and governments invest in their citizens. A better working world also develops talent in all its forms and encourages collaboration.

Our commitment to sectorWe have always believed that our clients

approach when it comes to client service. In 2005, we took this belief a step further by creating global sector teams to bring a sector focus to our services and priority accounts.

resources toward enhancing our global networks, improving our knowledge sharing and exchange resources, and expanding our sector-focused learning, with the aim of equipping our professionals with the information they need to deliver outstanding service to their clients.

In today’s challenging business environment, staying ahead of emerging trends is crucial to success. Our global network helps our professionals anticipate regulatory trends and market shifts while delivering timely

environment. It also helps us maintain a strong team of professionals who are consistently and globally trained, which

challenges and limits on-site learning curves.

Whether it is through sector-focused thought leadership and events or one-on-one meetings, our professionals use their deep industry knowledge to provide a point of view that matters to your business.

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EY is a global leader in assurance, tax, transaction and advisory services. We aim to have a positive impact on businesses and markets, as well as on society as a whole.

2 | EY’s Life Sciences Tax capabilities

Our Global Life Sciences network

Our Global Life Sciences network brings together a worldwide network of more than 7,000 sector-focused assurance, tax, transaction and advisory professionals. Our teams work to anticipate trends, identify implications and develop point of view on responding to critical issues.

Life sciences companies — from emerging startups to multinational enterprises — face new challenges in a rapidly changing health care ecosystem. Payers and regulators are increasing scrutiny and accelerating the transition to value and outcomes. Big data and patient-empowering technologies are driving new approaches and enabling transparency and consumerism. Players from other sectors are entering health care, making collaborations increasingly complex. These trends challenge every aspect of the life sciences business

your way forward and achieve success in the new ecosystem.

EMEIA

Japan

Americas

• 2,700 professionals

• 200 professionals

• 600 professionals

• 3,500 professionals

EY’s Global Life Sciences network includes more than 7,000 professionals around the world.

EY’s strong global connectivity enables us to assemble the right teams, share leading practices across the world and address life sciences companies’ needs, whatever location they are active in. This is a key added value for our clients.

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4 | EY’s Life Sciences Tax capabilities

EY’s Life Sciences Tax capabilities

and Japan

Stretching from the borders of China-Mongolia to the southern tip of Australia and New Zealand, it covers a wide geographical area with diverse landscapes, climates, societies, cultures, religions and economies. In addition to the highly diverse human, social and

generally lack the degree of harmonization enjoyed by developed

a tax and regulatory perspective, as well as with respect to accepted local practices and ways of working. When considered in the context

and complex business challenges for the life sciences industry. Yet the continued growth of the industry relies on operating effectively and

uniquely positioned to help clients successfully navigate these

and Japan Area manage their businesses by service line, sector and specialty practice, allowing us to provide clients with the most integrated and borderless service of any professional services organization.

In addition, consistent with our sector focus, EY has a well-established and extensive Life Sciences Tax leadership team composed of designated tax sector leaders and specialty practice resources at

a wealth of life sciences industry knowledge and experience and understand the business and tax challenges our clients face. In

Life Sciences network, serving as designated single points of contact and coordination for EY account teams and client personnel.

with our sector focus and overall management approach, allow us to deliver an enhanced level of quality and speed of response, deep industry knowledge, the right EY resource irrespective of country location, and a borderless service capability.

both clients with headquarters in Asia and international companies looking to expand in Asia.

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ASEAN/Southeast AsiaBruneiCambodiaGuamIndonesia LaosMalaysiaMaldivesMongoliaMyanmarN. Mariana IslandsPhilippinesSingaporeSri LankaThailandVietnam

JapanJapan

Greater ChinaChina (Mainland)Hong Kong SARMacau SARMongoliaTaiwan

South KoreaSouth Korea

OceaniaAustraliaFijiNew ZealandPapua New Guinea

Mongolia

South Korea Japan

China (Mainland)

Taiwan

Hong Kong

Brunei

Philippines

Papua New Guinea

New ZealandAustralia

Guam N. Mariana Islands

Thailand

VietnamMyanmar

Laos

IndonesiaSingapore

Malaysia

Cambodia

Maldives

Sri Lanka

Fiji

The extensive geographic reach and borderless tax services capability of our Life Sciences Tax network allow us to support our clients in a multitude of highly diverse markets throughout the region.

6 | EY’s Life Sciences Tax capabilities

• The economy of Australia is the 12th largest in the world by nominal

• US$1.45 trillion in 2014, Australia represents 2.34% of US$198 billion.

• The Australian population was approximately 23.49 million in 2014, while New Zealand’s was approximately 4.510 million.

• In 2014, the Australian Government funded 69.7% of total health care expenses, while the New Zealand Government funded 83% (2011,

• In 2014, the pharmaceutical per capita expenditure in Australia was US$514, second only to Japan and driven by popularity of patented drugs.

• Australia’s pharmaceutical market was valued at US$12.15 billion in 2014. Although expected to decline by 14.8% to US$10.35 billion in

terms the industry is expected to grow annually by 3.7%. • Australia’s medical device market was valued at US$4.9 billion in 2013

— ranked among the top 20 markets in the world.• New Zealand’s pharmaceutical market was valued around US$1.20

billion in 2014 but is expected to decline by 11% to US$1.07 billion in

however, the industry is expected to grow annually by 2.1%.

OceaniaD

emog

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ics

Life

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• US$10.3 trillion, representing 16.71% of the world economy, while Hong Kong’s was US$290.9 billion and Taiwan’s US$530 billion.

• In 2014, China’s population — the largest in the world — was 1.4 billion, while Hong Kong’s was 7.2 million and Taiwan’s 23.4 million.

• China is expected to represent more than 40% of the global pharmaceutical market growth between the years 2012–17.

• Currently the third-largest pharmaceutical market, China is estimated to overtake Japan and become the second largest by 2020.

• An increasing elderly population and incidence of chronic diseases, as well as continuous improvement in health care accessibility, quality and cost controls, are contributing to the growth.

• 41.6%, from US$3.3 billion in 2010 to US$9.3 billion in 2013.

•

makers to establish local research centers through various incentives.

Greater China

Dem

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cien

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Sources

ASEAN region – Overview and demographics information are EY research. The life sciences sector overview is based on IMS data.Japan BMI research report. The life sciences sector overview is based on World Bank data.South Korea BMI research report. The life sciences sector overview is based on World Bank data. IMS country report.Oceania BMI research report. Life sciences sector overview is based on World Bank data.Greater China BMI research report. The life sciences sector overview is based on World Bank data and 2015 life sciences outlook for China

* “China” refers to the mainland China jurisdiction in this publication.

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• ASEAN is the second-fastest-growing economy in Asia after China,

• It has expanded 300% of 3.5% to 7.5% through 2018.

• If ASEAN were a single economy, it would rank as the seventh-largest economy in the world, behind the US, China, Japan, Germany, France and the United Kingdom.

• With approximately 650 million people, ASEAN’s potential market is larger than the European Union and North America.

• For 2014, EY has estimated the ASEAN pharmaceutical market to be approximately US$21.4 billion, contributing about 1.9% to the global pharmaceutical market; it is expected to grow at a compound annual growth rate (CAGR) of 5.2% to reach US$23.6 billion (2.1% of the global pharmaceutical market) by 2016.

• Indonesia (US$4.4 billion in 2013) and Vietnam (US$2.5 billion in 2013) are the fastest-growing pharmaceutical markets, representing 68% of the estimated incremental growth in ASEAN between 2014 and 2018.

• Thailand (US$3.3 billion in 2013) and Philippines (US$2.8 billion in

growth.

ASEAN/Southeast Asia

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• Japan’s economy is the third largest• US$4.6 trillion, Japan represents

7.42% of the world economy.• Japan’s population is estimated at 127.1 million, with the elderly

population growing from 19.5% to 25.1% during 20014-13. • In 2014, the per capita pharmaceutical spending in Japan was US$835

(one of the highest in the world), primarily due to high per capita income and the popularity of patented drugs.

• The Japanese pharmaceutical market is among the largest in the world, valued at US$106 billion in 2014.

• Japan ranks second in the global medical device market (behind only the US), which is expected to grow at a CAGR of 2.9% to reach US$34.9 billion in 2018.

• Japan is the third-largest importer of medical devices, behind the US and Germany.

• Japan is very focused on growing the pharmaceutical and biotechnology sectors, and by 2020, plans to create a body similar to the ‘US National

Japan

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• South Korea’s economy is the 12th largest in the world by nominal

• US$1.4 trillion, South Korea represents 2.27% of the world economy.

• South Korea’s population is estimated to be approximately 50.42 million. However, during 2012–14 South Korea experienced negligible population growth, and during 2010–14 the population of those over 65 grew from 11% to 13%.

• In 2014, pharmaceutical spending per capita reached US$318, representing 15.4% of total health care expenditure.

• IMS ranks South Korea 14th in the global pharmaceutical market. It was valued at US$15.8 billion in 2014 and is expected to grow with a CAGR of 2.6% to reach US$18 billion by 2019.

• performed within the country, targeting to develop at least 10 new drugs by 2019.

• South Korea grew from US$877.9 million in 2010 to US$1.2 billion in 2013, growing at a CAGR of 12.3% during the period.

South Korea

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| EY’s Life Sciences Tax capabilities8

EY’s Tax services for life sciences companies

and Japan are dedicated to setting the standard for exceptional client service. Through a blend of deep local technical knowledge, industry experience and a dedicated Life Sciences Tax leadership teams, EY is uniquely positioned to help life sciences companies successfully navigate the tax and

are summarized below and on the following pages.

TaxTax sub-service lines

Business Tax Services (BTS)

Global Compliance and Reporting (GCR)

International Tax Services

Indirect Tax Transaction Tax People Advisory Services (PAS)

Specialty practices and core services

Incentives and Quantitative Services (QS)•

and ETR planning•

deductions• Accounting

assets•

business incentives

Tax Policy and Controversy• Tax policy

programs•

management

Tax Performance Advisory• Tax function

strategy and risk management

• Systems and process automation

Private Client Services• Personal tax

advisory• Personal tax

compliance

Business Tax Compliance• Corporate income tax

returns• Indirect tax returns• Quarterly, estimated

Tax Accounting and Risk Advisory Services• Statutory accounts and

tax provision• Uncertain tax positions• Tax account validation

and remediation • Accounting standards

Corporate Services• Legal entity

registration• Corporate secretarial• Financial statement

close process support• Bookkeeping and

payroll• Statutory reporting• Staff secondments

International Tax Advisory• Cross-border

structuring and planning

• Inbound and outbound investments

• Reporting and compliance

• Risk management•

tax desk network

Operating Model Effectiveness (OME)• Operating model

design, structuring, and compliance in support of cross-border business transformations

Transfer Pricing• Transfer pricing

planning and advisory

• Strategy and policy development

• Transfer pricing documentation

• Controversy management

VAT/GST/ Consumption Tax • Planning and

advisory • Risk

management• Systems and

processes

Global Trade• Customs and

excise duties planning

• Supply chain planning and market entry

• Import and export trade compliance

• Internal controls and processes

• Customs supply chain security programs

Transaction Tax Advisory• Third-party

acquisitions, divestitures, joint ventures, spin-offs, IPOs and restructuring

• Buy-side and sell-side structuring and due diligence

• Transactions-related tax advisory

• Post-deal implementation

• Internal tax restructuring

• Bankruptcy restructuring tax

• Capital markets transaction tax

Mobility• Mobility,

immigration assignment

• International social security

• Business travelers

Reward• Remuneration,

• Employment tax

Systems• Payroll advisory,

implementation and managed services

• HR technology and digital

Talent• Workforce strategy• Talent development

and management• Risk management

Performance• HR strategy and

operating models• Governance,

compliance and risk• Transaction support

Analytics

Law

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Business Tax Services (BTS) offers a suite of tax services to assist clients with their business and personal tax planning and advisory needs. Services include providing general domestic tax advice, domestic tax planning and controversy assistance, as well as maintaining effective relationships with tax authorities and tax policymakers and improving the performance of tax functions.

Incentives and Quantitative Services (QS)Our Incentives and QS practices offer a scalable set of services to assist clients with analyzing domestic/local incentives and tax planning opportunities, in many instances related to large data sets. Our Incentives and QS practices assist clients in improving cash

a combination of technical specialization and deep knowledge of business process and technology, while delivering services globally with skilled in-country resources. Available domestic incentives and

credits and research-related incentives, and negotiation and advice in connection with a myriad of other discretionary business incentives.

Tax Policy and Controversy

management but also with shareholders, regulators, the media and other industry observers. EY’s Tax Policy and Controversy network has extensive experience in developing and implementing policy programs, both as external advisers to governments and companies and as advisers inside government. Our tax controversy network assists clients in addressing their tax controversy, enforcement and disclosure needs by leveraging the network’s collective knowledge of

or sensitive tax disputes. In addition to examination support, we

documentation.

Tax Performance Advisory (TPA)Globalization, regulation, corporate governance, increased

some of the challenges facing corporate tax leaders today. With these challenges here to stay, tax functions need to effectively manage competing responsibilities and stakeholders while delivering enhanced performance. Through developing tax function strategies, helping to manage risk, and helping clients improve and automate processes, we assist them with building strong compliance and reporting foundations and more effectively managing their corporate income tax, VAT/GST, transfer pricing and other tax obligations.

How EY is helping:•

deductions and preferential tax rates associated with clients’ (QS)

• Executed a holistic cash tax planning feasibility study across

potential local country cash tax planning opportunities,

expenditures, accelerating expenses and deferral of income, and maximizing the deductibility of entertainment and promotional expenses (QS)

• Negotiated business incentives with local country economic development authorities to obtain full or partial income tax exemptions for qualifying income associated with increased local country investments (Incentives)

• Advised several multinational pharmaceutical companies in preparing written submissions in response to a Senate inquiry into corporate tax avoidance, as well as assisted in preparations for oral testimony (Controversy)

• Assistance with implementing tax corporate governance

pharmaceutical companies (TPA)

• effective future state GST compliance process; included design of future GST reporting processes and implementation of GST reporting tool incorporating data analytics (TPA)

•

Center of Excellence (COE) and shared service personnel, designing tax organization and processes, designing tax policy and controls, and advice on operationalizing transfer pricing (TPA)

Business Tax Services (BTS) Private Client Services (PCS) Our PCS practices offer tax-related domestic and cross-border planning and compliance assistance to business-connected individuals and their associated entities. In addition, in today’s global environment, cross-border services help meet the ever-growing needs of internationally positioned clients.

10 | EY’s Life Sciences Tax capabilities

their global and regional compliance and reporting functions due to limited visibility and control over local country statutory accounting, tax compliance, and concerns around cost, value and risk. EY provides clients an integrated, one-stop accounting and tax suite of “record-to-report” services to address these challenges.

Our approach combines extensive local compliance and accounting

standard global compliance process and web-based tools. Clients can access the resources of our dedicated compliance and reporting professionals nationally, regionally or globally. Our advice can accommodate local-to-local service, where you need it, at the same time centralizing and automating aspects of the process where it makes sense. Our next-generation model focuses on global data management, making it easier to centralize and re-use data across

result in more accurate data and less manual intervention.

Business Tax ComplianceOur Business Tax Compliance teams help prepare and/or review annual corporate income tax returns, as well as quarterly, estimated

local-to-local engagement to centralized regional and/or global coordination and delivery.

Tax Accounting and Risk Advisory Services (TARAS) TARAS assists with preparing statutory accounts, supporting quarterly and annual tax provision calculations (including review of uncertain tax provisions under US GAAP and IFRS), validating tax balance sheet accounts and advising on new accounting standards under IFRS and/or local GAAP, making return-to-provision calculations, identifying and prioritizing key risks, and assisting with controls monitoring and remediation.

Corporate Services

services, including legal entity registration, attending to corporate secretarial matters, bookkeeping, accounting and payroll outsourcing. We also provide seasonal and/or long-term staff secondments to

How EY is helping:• Preparation of statutory accounts and all required corporate

including preparation of English summary translations and return-to-provision, with regional coordination and central point of contact

• Health check and audit readiness review to identify and address exposures pre-audit, as well as build audit defense

documentation is audit ready

• Tax provision risk assessment analysis to validate account balances for all material tax accounts and reasonableness of FASB Interpretation No. 48 (FIN 48) reserves, taking into account available supporting documentation, local country audit environment and current practices, status on ongoing audits, and more

• risk assessment and “early warning” procedures to supplement existing “FIN 48” processes to help the client more effectively

• Full outsourcing of corporate secretarial requirements across

• function on several substantial acquisitions and to cover peak capacity bookkeeping and preparation of statutory accounts

• Conversion of US GAAP ledger information to local GAAP to

Global Compliance and Reporting (GCR)

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EY’s International Tax Services network offers a suite of international tax services, including cross-border tax advisory, planning, documentation, reporting and risk management services. Our professionals work with clients to build proactive and integrated global and regional tax strategies that address the tax risks of today’s businesses while helping clients achieve sustainable future growth. International tax specialty services include International Tax Advisory, Operating Model Effectiveness (OME) and Transfer Pricing.

International Tax Advisory International Tax Advisory consists of dedicated international tax professionals who assist clients with their cross-border tax structuring, planning, reporting and risk management needs.

Japan tax desk networks — co-located teams of highly experienced professionals from multiple countries — have revolutionized the way we provide international tax services.

Operating Model Effectiveness (OME) Our OME practices work with multinational clients to design and help them implement operating models that support business

approach to operating model design can be leveraged by clients across all aspects of their

carve-outs, supply chain restructuring, and network and trade optimization to new market entry and international expansion.

Transfer Pricing Our Transfer Pricing professionals help clients develop, manage, document, review and defend their transfer pricing policies and processes, aligning them with their business strategy. We offer a wide range of transfer pricing services, ranging from strategy and policy development, to transfer pricing documentation, to controversy and risk management.

How EY is helping:• Permanent establishment (PE) risk assessment to identify, quantify and mitigate

potential PE exposures, including review of roles and activities of business

agreements (Advisory)

• Operating model design and tax opportunity assessment, including design of future state operating model, development of the transformation road map, co-development of effective tax rate targets and management KPIs (OME)

• Network optimization study for Southeast Asian regional manufacturing operations, including support of insource vs. outsource decisions, end-to-end cost-to-serve analysis, regulatory and import requirements, and tax risk management strategy (OME)

•

(OME)

• Study of the commercial, supply chain and related tax implications of establishing a regional headquarters company in Singapore, including analysis of tax implications across 10 ASEAN jurisdictions (OME)

• Transfer pricing planning to determine appropriate intercompany pricing for services and royalty charges, including negotiations with tax authorities (TP)

• Transfer pricing controversy support, including advice and representation during tax authority examinations, as well as APA negotiations and support during MAP proceedings (TP)

• Preparation of regional and local transfer pricing documentation and development

regulatory requirements (TP)

• Risk assessment analyses to prepare for country-by-country reporting as (TP)

• Intercompany effectiveness study to develop and help implement processes and systems for operationalizing intercompany pricing policies, making automatic pricing adjustments as needed throughout the year, and monitoring whether each subsidiary has achieved its targeted margin at year-end (TP)

• Transfer pricing documentation study to support corporate and regional headquarter charges to increase sustainability of deductions for service fee recipients with respect to “high-risk” charges, including IT, HR and legal allocations (TP)

International Tax Services

12 | EY’s Life Sciences Tax capabilities

Every transaction has tax implications, whether it’s an acquisition,

Understanding and planning for these implications can mitigate transaction risk, enhance opportunity within the deal and provide crucial negotiation insights. By combining diverse cross-border

knowledge, we assist clients in making informed decisions and navigating the tax implications of their transactions. Because

personalized, integrated teams to work with clients throughout the transaction life cycle, from initial due diligence through post-deal implementation. Our local teams employ a consistent approach globally to provide clients with a coordinated understanding of the relevant jurisdictional and multidisciplinary tax issues. Our Transaction Tax professionals assist clients with all aspects of the transaction life cycle. We can also suggest structuring alternatives to achieve commercial objectives, promote exit readiness and help

returns on investment.

How EY is helping:• Tax due diligence in connection with proposed joint venture to

identify and assess historical tax and transfer pricing exposures

• Review of purchase and sale agreement and advice as to

to cover applicable taxes, surtaxes, penalties and interest

• Tax structuring advice with respect to the potential tax and stamp duty implications arising from a share vs. asset deal, including implementation assistance

• Tax structuring advice with respect to the preferred exit strategies in respect of an investment held by a multinational company headquartered in the region

Transaction Tax

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EY’s network of dedicated Indirect Tax compliance and advisory professionals assists our clients in meeting their global compliance and business objectives by combining technical knowledge, industry perspective, and advanced tools and methodologies to identify risk areas and sustainable planning opportunities for indirect taxes such as value-added tax (VAT), goods and services tax (GST), consumption tax and property taxes. Indirect Tax specialty services include VAT/GST/Consumption Tax Advisory and Compliance and Global Trade.

VAT/GST/Consumption Tax Advisory and Compliance EY assists clients in identifying risk areas and sustainable planning opportunities for indirect taxes throughout the tax life cycle and helping clients to meet their global compliance obligations and business objectives. Such services include development of indirect tax processes to minimize reporting errors and associated costs.

Global TradeOur Global Trade professionals help clients operate more effectively in moving goods around the world. We assist clients in developing and implementing strategies to help manage duty costs by utilizing free trade agreements, special programs and transactional structuring. We also help clients manage the risks of global trade, improving their international trade compliance and increase the operational effectiveness of their supply chains. Our core Global Trade offerings include strategic planning to manage customs and excise duties, trade compliance reviews for imports and exports, internal controls and process improvement, and participation in customs supply chain security programs.

How EY is helping:• Trade data analytics study analyzing external customs authority

cost and tax savings, tax cash refunds and risk mitigation

• underpayments of customs duty and opportunities for reducing future customs duty obligations

• VAT/GST health check and audit readiness review utilizing data analytics capabilities available to taxing authorities to identify and address exposures pre-audit, as well as build audit defense

documentation is audit ready

• Analysis of supply chain and distribution model to identify and secure approval for favorable import/export regimes allowing, for example, non-dutiable goods to be imported without

• Procurement analysis for raw materials and packaging

cash tax savings

• locations focusing on indirect tax incentives, as well as duty and indirect tax costs

• VAT/GST and duty impact analysis on payments for intangibles (e.g., royalties and license fees) for manufacturing and distribution locations

Indirect Tax

14 | EY’s Life Sciences Tax capabilities

EY People Advisory Services (PAS) assists clients in attracting, mobilizing, incentivizing, motivating, rewarding, deploying and developing people. We help create organizations of the future and support transformations that drive innovation and demonstrable shareholder value. Our PAS practices offer an “end-to-end” perspective on the people challenges facing global organizations and delivers integrated global mobility, talent, reward, HR systems, workplace effectiveness and HR performance improvement services.

MobilityWe offer assistance in managing the risks and complex compliance and reporting requirements inherent in deploying a globally mobile workforce. We also offer a suite of mobility services, including global mobility tax and advisory, global immigration, assignment services, international social security, and business traveler services. We also work with clients to assess, design and deliver program improvement initiatives.

RewardWe offer assistance in addressing the range of issues associated with reward strategies and improving performance in connection with key business areas. Services include advice in connection with board and

and law.

SystemsWe offer assistance in addressing the range of issues associated with HR support systems, including payroll advisory, implementation and managed services, HR technology assessment, selection and integration, and digital.

Talent We offer assistance in addressing the range of issues associated with talent strategies, including workforce strategy, capability development, talent management, organizational development and people risk management.

PerformanceWe offer assistance in developing and strategically implementing HR programs and reshaping the HR function through services in HR strategy, HR operating model policies, governance and design, shared services establishment, change management, organizational design, and transactions, including due diligence, divestiture, integration and IPOs.

AnalyticsSupporting each of our capability pillars is a range of HR analytics services, comprising measurement and benchmarking, modeling and reporting, workforce and costings, and qualitative analytics.

How EY is helping:• End-to-end integrated mobility services, including assignment

services, global immigration, expatriate taxation, compensation accumulation and equity services

• Advice to board remuneration committees on board and senior executive remuneration, including market benchmarking, performance and compliance

• Advice on company payroll strategy, including assistance with developing scope requirements, analyzing third-party tender responses, third-party selection and oversight of implementation

• Advice regarding global talent strategy, including talent pools, selection processes, onboarding, development, retention and retiring

• Evaluation of HR capabilities, capacity and tools in support of anticipated acquisition to achieve planned organizational synergies

People Advisory Services (PAS)

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clients with a range of legal services. Our legal professionals work closely with EY Assurance, Tax, Transactions and Advisory colleagues to deliver informed, professional guidance on the increasingly complex regulatory and commercial legal

region, including the impact of such laws on cross-border transactions. Specialty legal

and IP/IT Law. For cross-border transactions involving multiple jurisdictions, the lead

counsel and manages the delivery of legal services from the EY network so that work products are consistent and cohesive.

How EY is helping:•

due diligence, negotiating and documenting transactions, addressing post-deal implementation (including alignment of legal structure and operations), drafting employment law contracts/policies/procedures, drafting terms and conditions for customers, and more

• equity raising

• Review and drafting of intercompany services and royalty agreements to document agreed-upon terms and promote consistency with global and regional transfer pricing policies, as well as with business, operating and supply chain models

• Advice on employment law aspects of transactions and start-up ventures, including due diligence, employment/contractor structures and “transfer” of employees

• Advice and drafting of HR policies and procedures

• Advice in connection with intellectual property rights protection (including intragroup arrangements), data protection, privacy, IP/IT and more

Law

16 | EY’s Life Sciences Tax capabilities

The APTC operates as a virtual hub of highly experienced EY tax and

companies operating in the region. The APTC is organized around 10 focus areas where our clients tell us they most need centralized and coordinated services: Global Compliance and Reporting, Global

Operating Model Effectiveness (OME), Tax Performance Advisory (TPA), Tax Policy, Corporate Secretarial Support and Legal Services. The APTC supports and complements local and regional tax and mobility service teams serving accounts in 20 countries throughout

the region. Through the APTC we offer increased access to leading-edge thinking and truly borderless service. The APTC delivers insightful, responsive and connected cross-border services drawing on the knowledge of more than 100 client serving professionals, including 24 partners, with a broad variety of specialty skills. The APTC works seamlessly with our tax account leaders (TALs) and other local tax professionals to provide companies with a team tailored

experience.

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Key contacts

Sciences tax leaders

tax leaders

Glo

bal a

nd A

rea

Regi

onalGreater China

ASEAN/Southeast Asia

South Korea

Oceania

Mitch CohenGlobal Life Sciences Tax LeaderNew Yorkmitchell.cohen@ey.com+1 203 674 3244

Titus BongartShanghaititus.bongart@cn.ey.com+86 21 2228 2884

Vickie TanShanghaivickie.tan@cn.ey.com+86 21 2228 2648

Siew Moon Sim Singapore siew-moon.sim@sg.ey.com+65 6309 8807

Jae Cheol KimSeouljae-cheol.kim@kr.ey.com+82 2 3770 0961

Rick Fonte

Tax LeaderSingaporerichard.fonte@sg.ey.com+65 6309 8105

Jonathan Stuart-SmithJapan Life Sciences Tax Co-LeaderTokyo jonathan.stuart-smith@jp.ey.com+81 3 3506 2426

Tatsuhide Kanenari Japan Life SciencesTax Co-LeaderTokyotatsuhide.kanenari@jp.ey.com+81 3 3506 1364

Denise BrothertonMelbournedenise.brotherton@au.ey.com+61 3 9288 8758

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Melbournedenise.brotherton@au.ey.com+61 3 9288 8758

Hong Kong/MacauKarina WongHong Kongkarina.wong@hk.ey.com+852 2849 9175

China (Mainland)Titus BongartShanghaititus.bongart@cn.ey.com+86 21 2228 2884

Vickie TanShanghaivickie.tan@cn.ey.com+86 21 2228 2648

TaiwanAnn ShenTaipeiann.shen@tw.ey.com+886 2 2757 8888

IndonesiaPeter NgJakartapeter.ng@id.ey.com+62 21 5289 5228

Thailand/MyanmarSu San Leong Bangkoksu-san.leong@th.ey.com+662 264 9090

Vietnam/Cambodia/LaosThinh X ThanHo Chi Minh City thinh.xuan.than@vn.ey.com+84 8 3824 5252

Singapore/BruneiSiew Moon SimSingapore siew-moon.sim@sg.ey.com+65 6309 8807

MalaysiaJanice WongKuala Lumpur janice.wong@my.ey.com+6 03 7495 8223

Philippines/GuamCzarina “Bing” MirandaMakati Cityczarina.r.miranda@ph.ey.com+63 2 894 8034

New Zealand/FijiAaron QuintalAuckland aaron.quintal@nz.ey.com+64 9 300 7059

Greater China

Oceania

ASEAN

South Korea JapanAustralia

Jason WrigleySydney jason.wrigley@au.ey.com+61 2 9248 5303

Jonathan Stuart-SmithInbound accountsTokyo jonathan.stuart-smith@jp.ey.com+81 3 3506 2426

Tatsuhide KanenariOutbound/domestic accountsTokyotatsuhide.kanenari@jp.ey.com+81 3 3506 1364

Jae Cheol KimSeouljae-cheol.kim@kr.ey.com+82 2 3770 0961

20 | EY’s Life Sciences Tax capabilities

Business Tax ServicesIncentives and QS

Mike CarrHong Kongmichael.carr@hk.ey.com+852 2629 3118

Koichi SekiyaTokyokoichi.sekiya@jp.ey.com+81 3 3506 2447

Tax Policy and Controversy

Howard AdamsSydneyhoward.adams@au.ey.com+61 2 9248 5601

Koichi SekiyaTokyokoichi.sekiya@jp.ey.com+81 3 3506 2447

Tax Performance Advisory

Albert LeeHong Kongalbert.lee@hk.ey.com+852 2629 3318

Private Client Services

Ian BurgessBrisbaneian.burgess@au.ey.com+61 7 3243 3711

Global Compliance and ReportingTax Compliance

Singaporedavid-edwin.scott@sg.ey.com+65 6309 8788Julian Wong Kuala Lumpur julian.wong@my.ey.com+6 0374958347

Nobue Sato Tokyonobue.sato@jp.ey.com+81 3 3506 2678

Tax Accounting and Risk Advisory Services (TARAS)

Iris TaoShanghaiiris.tao@cn.ey.com+86 21 2228 3269

Corporate Services

Mike FrySydneymike.fry@au.ey.com+61 2 8295 6439

Tomoko OkadaTokyotomoko.okada@jp.ey.com+81 3 3506 2411

Indirect TaxVAT/GST/Consumption Tax

Adrian BallSingaporeadrian.r.ball@sg.ey.com+65 6309 8787

Yoichi OhiraTokyoYoichi.Ohira@jp.ey.com+81 3 3506 2678

Global Trade Marc BunchHong Kongmarc.bunch@hk.ey.com+852 2629 3588

Yoichi Ohira Tokyoyoichi.ohira@jp.ey.com+81 3 3506 2678

International Tax ServicesInternational Tax Advisory

Alice ChanHong Kongalice.chan@hk.ey.com+852 6111 7453

Jonathan Stuart-SmithTokyo jonathan.stuart-smith@jp.ey.com+81 3 3506 2426

NetworkJonathan Stuart-SmithTokyo jonathan.stuart-smith@jp.ey.com+81 3 3506 2426

Operating Model Effectiveness (OME)

Edvard RinckHong Kongedvard.rinck@hk.ey.com+852 6119 3345

Yasuyuki Ogata Tokyoyasuyuki.ogata@jp.ey.com+81 3 3506 2678

Transfer Pricing Joanne SuBeijingjoanne.su@cn.ey.com+86 10 5815 3380Curt KinskyHong Kongcurt.kinsky@hk.ey.com+852 2 6929 3098

Karl GruendelTokyokarl.gruendel@jp.ey.com+81 3 3506 2389

Transaction Tax

Hong Kongdavid.chan@hk.ey.com+852 26293228

Masako KanayaTokyo masako.kanaya@jp.ey.com+81 3 3506 2430

People Advisory ServicesNick PondSydneynick.pond@au.ey.com+61 2 8295 6490

Harish K. Shrivastava Tokyoharish.k.shrivastava@jp.ey.com+81 3 3506 2411

LawHoward AdamsSydneyhoward.adams@au.ey.com+61 2 9248 5601

Yutaka Kitamura Tokyoyutaka.kitamura@jp.ey.com+81 3 3509 1668

Graham FrankSingaporegraham.frank@sg.ey.com+65 6309 8027

21|

22 | EY’s Life Sciences Tax capabilities

23|

We’re more than just a network of locally

controlled national tax practices. We are a

global team. We invite you to leverage our

people, our knowledge and our insights. The

tax world is changing. We’re here to help.

We are a global team

EY | Assurance | Tax | Transactions | Advisory

About EYEY is a global leader in assurance, tax, transaction and advisoryservices. The insights and quality services we deliver help build trust andconfidence in the capital markets and in economies the world over. Wedevelop outstanding leaders who team to deliver on our promises to allof our stakeholders. In so doing, we play a critical role in building a betterworking world for our people, for our clients and for our communities.

EY refers to the global organization, and may refer to one or more, of

by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.

How EY’s Global Life Sciences Center can help your business Life sciences companies — from emerging to multinational — are facing challenging times as access to health care takes on new importance. Stakeholder expectations are shifting, the costs and risks of product development are increasing, alternative business models are manifesting, and collaborations are becoming more complex. At the same time, players from other sectors are entering the field, contributing to a new ecosystem for delivering health care. New measures of success are also emerging as the sector begins to focus on improving a patient’s “health outcome” and not just on units of a product sold. Our Global Life Sciences sector practice brings together a worldwide network of more than 7,000 sector-focused assurance, tax, transaction and advisory professionals to anticipate trends, identify implications and develop points of view on how to respond to the critical sector issues. We can help you navigate your way forward and achieve success in the new health ecosystem.

© 2015 EYGM Limited. All Rights Reserved.

EYG no: FN02331505-1530548

This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.

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