Cycle & Carriage

Jardine Cycle & Carriage (“JC&C” or “the Group”) is an investment holding company with a strategic focus on the fast-growing economies of Indonesia and Vietnam. Our portfolio comprises market-leading businesses across different sectors in these countries, alongside further interests in other regional markets.

Indonesia:

• Astra (50.1% owned) is an excellent proxy for Indonesia, with leadership positions in automotive, financial services, heavy equipment, mining, construction & energy, agribusiness, infrastructure, IT and property.
• Tunas Ridean (49.9% owned), one of the largest automotive dealerships in Indonesia.

• Truong Hai Group Corporation (26.6% owned), Vietnam’s automotive market leader and largest private business group in the country, has significant interests in agriculture, real estate, logistics, infrastructure construction, and retail.
• REE Corporation (41.6% owned), the first publicly listed company in Vietnam, participating in power and utilities, including renewable energy, as well as property development and office leasing, and mechanical & electrical engineering.
• Vinamilk (10.6% owned), the leading dairy producer in Vietnam.

• Cycle & Carriage, a leading automotive dealership group with an extensive network in Singapore (100% owned) and Malaysia (97.1% owned).
• Toyota Motor Corporation (0.1% owned), a leading multinational automotive manufacturer and the best-selling automotive brand in Indonesia.

• Prepare/ review direct tax returns and tax provisions, working with internal stakeholders and external tax advisors to ensure adherence to local tax laws and regulations.
• Attend to tax audits/ queries raised by the tax authority, and work with internal stakeholders and external tax advisors to ensure timely submission.
• Review and enhance the tax compliance processes and documentation.
• Assist with queries on withholding taxes and GST from the Singapore entities.

• Assist and liaise with external tax advisors on the preparation of transfer pricing documentation.
• Coordinate with internal stakeholders to maintain and update the sub-master file for reporting to head office.
• Review cross-border transactions to identify and mitigate potential tax risks.

• Prepare and review Forms IR8A and personal tax returns of JC&C listed company’s Board of Directors and secondees based in Singapore or tax-equalised to Singapore.
• Support and liaise with external tax advisors on personal tax matters of secondees posted overseas.
• Work with JM Group and in-country mobility or HR teams to consolidate the information required for secondees’ onboarding or tax clearance (e.g. IR21).
• Provide advice on tax treatment for annual tax exercise on all employees-related benefits and employee awards for Singapore entities.
• Compute car-related benefit-in-kind payments and partner with in-country Finance and HR teams for annual tax reporting and submission.
• Support in-country HR teams and JC&C Group Finance on annual tax equalisation computations (host country and home country) for employees on overseas postings.
• Provide estimates of secondees’ taxes to Group Finance for budgetary purposes.

• Provide ad-hoc tax advisory to internal stakeholders, including assessing tax implications of projects undertaken and reviewing agreements.
• Identify and manage tax risks / opportunities across business operations