Friday, 22 September 2017
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singapore - Tax & Revenue - News

Taxman calls on Grab, Uber Drivers

The Inland Revenue Authority of Singapore (IRAS) is reported to have approached the two ride-hailing firms to work out an arrangement for the drivers to file their tax returns automatically.
Date: 17 September 2017; Type: Legal News; Source: Singapore Law Watch

Tampines Court Owners get More Time to pay Seller's Stamp Duty

The Inland Revenue Authority of Singapore prepared to consider requests to waive the penalty incurred up to the date of the sales order, provided that the said contract is stamped within 14 days from the date of execution.
Date: 13 September 2017; Type: Legal News; Source: Singapore Law Watch

Establishment of Temporary Restricted Area during 2017 Formula 1

The Civil Aviation Authority of Singapore (CAAS) will be establishing a temporary Restricted Area over certain parts of Singapore (as shown in the map at Annex A) under the Air Navigation Order (ANO).
Date: 08 September 2017; Type: Legal News; Source: Civil Aviation Authority

Former Director sentenced to Jail Term and Penalty for assisting in Income Tax Evasion

Kuah Pong Guan (“Kuah”), former director of Wesco Engineering Pte Ltd (“WEPL”), a company involved in fabrication of metal works, has been convicted of assisting WEPL to evade tax for two years in the Years of Assessment (“YA”) 2009 and 2010. The court sentenced Kuah to two weeks’ imprisonment and a penalty ...
Date: 08 September 2017; Type: Legal News; Source: Inland Revenue Authority of Singapore

Responses to Public Consultation on Property Tax (Amendment) Bill 2017

The Ministry of Finance (MOF) held a public consultation exercise on the draft Property Tax (Amendment) Bill 2017 from 4 May to 25 May 2017. The draft Bill provided for changes to the Property Tax Act to update the legislation and to improve tax administration. These are:
Date: 06 September 2017; Type: Tax News; Source: Ministry of Finance

MOF to move Bill on Two Proposed Property Tax Changes

The Finance Ministry has decided to proceed with two proposed changes in the Property Tax (Amendment) Bill 2017 following a public consultation.
Date: 06 September 2017; Type: Legal News; Source: Singapore Law Watch

Man sentenced to 17 Months’ Imprisonment for dealing with Duty-Unpaid Cigarettes

An Indonesian man Suryadi Memet, 21, was sentenced by the State Courts on 15 August 2017 to 17 months’ imprisonment for dealing with duty-unpaid cigarettes.
Date: 15 August 2017; Type: Tax News; Source: Customs Department

Singapore and Nigeria sign Agreement for Avoidance of Double Taxation

Singapore signed an Agreement for the Avoidance of Double Taxation (DTA) with the Federal Republic of Nigeria on 02 August 2017.
Date: 03 August 2017; Type: Tax News; Source: Inland Revenue Authority of Singapore

Wholesale Trader and Company to pay Penalties of $169,194.60 and Fine of $5,000 for False PIC Claim

A 38-year old man, Chin Jin Han, who was running a wholesale trading company, Mah Sing Pte. Ltd (“Mah Sing”), has been convicted of providing false information in the company’s Productivity and Innovation Credit (“PIC”) cash payout application form. The court ordered both the company and Chin Jin Han to pay total penal ...
Date: 21 July 2017; Type: Legal News; Source: Inland Revenue Authority of Singapore

Former Manager of Export Business jailed for GST Fraud - Penalty is More than Half a Million

Suneel Ramchandani (“Suneel”), the former manager of Indibiz, an export business for luxury watches and electronic products, has been charged and convicted for making fictitious declarations to enable Indibiz to claim GST refunds totalling $178,314.82.
Date: 21 July 2017; Type: Legal News; Source: Inland Revenue Authority of Singapore

Robotic Ice-Cream Machine Company Director sentenced to 6 Weeks’ Jail for evading GST

Robofusion Asia Pte Ltd, a company that supplies robotic ice-cream kiosks, has been convicted of evading the Goods and Services Tax (GST) by overstating GST input tax on its GST return. Robert Taramelli, the company director, was also convicted for his role in assisting the company to evade GST.
Date: 06 July 2017; Type: Tax News; Source: Inland Revenue Authority of Singapore

Singapore to sign the Multilateral Convention to implement Tax Treaty related Measures to prevent Base Erosion and Profit Shifting

Singapore will sign the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (“the Multilateral Instrument”) on 7 June 2017. The Multilateral Instrument will be signed in Paris by Ms Sim Ann, Senior Minister of State, Ministry of Culture, Community and Youth, and Trade and Industry ...
Date: 07 June 2017; Type: Tax News; Source: Inland Revenue Authority of Singapore

MOF invites Feedback on proposed Changes to the Goods and Services Tax Act

The Ministry of Finance is inviting interested parties to provide feedback on the draft GST (Amendment) Bill 2017 from 12 May to 4 June 2017.
Date: 12 May 2017; Type: Tax News; Source: Ministry of Finance

Tax Agreements with India and Uruguay enter into Force

The Third Protocol amending the existing Avoidance of Double Taxation Agreement (DTA) between Singapore and the Republic of India entered into force on 27 February 2017.
Date: 27 February 2017; Type: Tax News; Source: Inland Revenue Authority of Singapore

Reduction in Special Tax and other Offset Measures for Owners of Diesel Vehicles

Measures will more than offset diesel duty incurred in the first year for large majority of vehicles.
Date: 20 February 2017; Type: Tax News; Source: Land Transport Authority

Industry Updates

ASEAN, Dialogue Partners hope for End of Marawi Conflict Soon

MANILA - The ASEAN member states and its dialogue partners are hoping that the more than three-month fighting in Marawi be resolved soon.

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ASEAN Public Relations strengthen Regional Structure

Badung, Bali (ANTARA News) - Public relations and communication are keys to obtain public understanding and participation in order to strengthen the regional organization's position at the global level, Director General of Public Information and Communication at the Ministry of Communications and Information Technology, Rosarita Niken Widiastuti, stated here on Wednesday.

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Malaysia-Thailand to ink MoU on Security Cooperation

BANGKOK, Sept 20 (Bernama) - There will be closer security cooperation between Malaysia and Thailand with the establishment of a Joint Committee on Security Cooperation, according to a cabinet resolution document released by the Thai government.

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MAS sets up International Advisory Panel for Cyber Security

Singapore, 20 September 2017 - The Monetary Authority of Singapore (MAS) announced today that it has established a Cyber Security Advisory Panel (CSAP), comprising cyber security thought leaders from around the world.

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Singapore and China Mediation Centres work together to help Businesses resolve Disputes along Belt and Road

1. The Singapore International Mediation Centre (SIMC) and the Mediation Center of the China Council for the Promotion of International Trade / China Chamber of International Commerce (CCPIT/CCOIC Mediation Center) will work together to support businesses and help them resolve disputes that may arise in cross-border commercial transactions under China’s Belt and Road Initiative (BRI). The two mediation centres signed a Memorandum of Understanding (MOU) today at the International Mediation Summit held in Hangzhou, China.

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ASEAN enhances Coordination to tackle Cyber Threats

SINGAPORE, Sept 18 (Bernama) - ASEAN member states have agreed on the importance of enhancing coordination to ensure that its cybersecurity efforts across various platforms in countering increasingly sophisticated cyber threats are focused, effective and in synergy with one another.

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Veteran Lawyer Leo Fernando dies at 85

He was counted among the "legends" in criminal law in the 70s and 80s.

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Five Court Volunteers lauded for Dedication

These volunteers of the Supreme Court, the State Courts and the Family Justice Courts received awards for their outstanding commitment and dedication to pro bono work.

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Halimah Yacob is Singapore's Eighth President

SINGAPORE, Sept 14 (Bernama) - Halimah Yacob was sworn in as Singapore's eighth President at the Istana today, marking her first day of a six-year term.

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ASEAN to promote Trade with Russia and EAEU

Jakarta (ANTARA News) - ASEAN Economic Ministers agreed to expand trade with Russia and those grouped in the Eurasian Economic Union (EAEU).

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Conclusion of the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong, China Investment Agreement (AHKIA)

The Economic Ministers of ASEAN and Hong Kong, China (HKC) announced the conclusion of the ASEAN-HKC Free Trade Agreement (AHKFTA) and the ASEANHKC Investment Agreement (AHKIA) at the Second ASEAN Economic Ministers (AEM)-HKC Consultations held on 9 September 2017 in Pasay City, the Philippines.

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SGX RegCo announces Board Members; Operational Start on 15 September

Singapore Exchange Regulation (SGX RegCo) has appointed Mr Alan Shaw, Ms Jane Diplock AO and Mr Ronny Tan to its board. The company will begin operations on 15 September 2017.

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