News

All companies are required to publish its registration number on certain documents with effect from 1 October 2004.

The Ministry of Finance is considering the merits of replacing the preceding year basis of assessment with a current year basis of assessment for taxation of income.

The National Council of Social Service (NCSS) launched the comprehensive information and resource website for the disabled.

Ministry of Trade and Industry (MTI) is embarking on a public consultation of the proposed amendments to the Countervailing and Anti-Dumping Duties Act (the "CADA").

The amendments seek to implement the World Trade Organisation (WTO) spells out a set of internationally-agreed rules governing the use of anti-dumping duties.

This consultation paper sets out the Monetary Authority of Singapore (MAS) proposals on how Singapore incorporated banks adopting the internal ratings-based (IRB) approach in the Basel II Framework should:
- Implement the retail asset and sub-asset class definitions; and
- Distinguish SME exposures from corporate exposures in general.

The Law Society launched a pilot scheme on Wednesday,7th September 2004 matching eight law firms to eight community-based non-profit groups to help them run their organisations and avoid legal pitfalls. Ong Tay & Partners is one of the eight law firms involved in this scheme assisting the All Saints Home.

ACRA has published an Addendum to its Practice Direction on the printing of company registration numbers. Included are a list of frequently asked questions and ACRA's responses.

The Ministry of Finance is launching a public consultation exercise to seek comments and feedback on a draft Public Private Partnership (PPP) Handbook. The public consultation will take place from 5 August to 15 September 2004.

On 11 August 2004, the Monetary Authority of Singapore released a Consultation Paper on draft Business Trusts Regulations ("BT Regulations").

On 16 August 2004, SGNIC announces the launch of second-level level domain name under ".sg" name space. The launch will be in two phases: Soft Launch from 15 Sep 04 to 2 Jan 05 and the General Launch from 3 Jan 05 onwards.

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