- First EY Tax Lab to be associated with a university in Asia-Pacific
- Collaboration will establish a platform for joint research and technology development
EY today announces a collaboration between the EY Advanced Technology Tax Lab (Tax Lab) and the Hong Kong University of Science and Technology (HKUST). The agreement brings together the global EY capabilities with a university recognized for its strength in data science, machine learning, and business education,1 in order to address complex tax issues through the use and application of advanced technologies.
Formally announcing the collaboration Ernst & Young Tax Services Limited received delegates from HKUST for a ceremony to sign the Memorandum of Understanding (MOU) between the two organizations.
Albert Lee, EY Global Tax Technology and Transformation Co-Leader and EY Asia-Pacific Tax Technology and Transformation Leader, said:
“The digitalization of tax administrations is dramatically disrupting the tax profession. New technology enables more reporting requirements, more real-time data, digital data collection, application of data analytics and machine learning, as well as more data sharing between tax authorities.”
The agreement between Ernst & Young Tax Services Limited and HKUST will establish a platform for joint research and technology development opportunities relating to the application of emerging technology to practical tax scenarios. This will include practical tax technology case study projects, speaking opportunities for HKUST academic staff and EY member firm partners, and internship and graduate employment opportunities for students.
Professor Kar Yan Tam, Dean of Business and Management at HKUST, said:
“We are honored to become the first Asia-Pacific university to be associated with the EY Advanced Technology Tax Labs. The collaboration allows our researchers and students to build relevance to the corporate world and address real challenges faced by the industry.”
The EY Advanced Technology Tax Lab fulfills the purpose of reinforcing an EY commitment to help clients navigate the evolving tax landscape as new technologies enter the market and mature at unprecedented speed, impacting entire business models, value chains and the tax function.
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