News

A lawyer from Ong Tay & Partners, Lim Seng Siew, will be participating in the seminar organised by iKMS and LexisNexis. The seminar is on 5 August 2004, betweeb 2:00pm - 5:30pm at Meritus Mandarin Singapore.

The Ministry of Finance is seeking comments and views on the draft Property Tax (Amendment) Bill 2004 which sets out the legislative amendments to the Property Tax Act.

The Ministry of Finance is seeking comments and views on the draft Stamp Duties (Amendment) Bill 2004 which introduces amendments to the Stamp Duties Act resulting from the introduction of the Limited Liability Partnership ("LLP").

The Ministry of Finance is seeking comments and views on the draft Goods and Services Tax (Amendment) Bill 2004.

The Ministry of Finance is seeking comments and views on the draft Income Tax (Amendment No. 2) Bill 2004 which introduces amendments to the Income Tax Act relating to the taxation of the Limited Liability Partnership.

Trust companies in Singapore are currently regulated by the Accounting & Corporate Regulatory Authority ("ACRA") under the current Trust Companies Act ("current TCA"). The Monetary Authority of Singapore ("MAS") seeks comments on establishing a new regulatory framework for trust companies, including a new Trust Companies Act ("TCA"). Under the new framework, MAS will regulate trust companies in Singapore. The new framework seeks to enhance the standards of the trust services industry in Singapore.

The Ministry of Information, Communications and the Arts ("MITA") is embarking on a public consultation on the proposed amendments to the Telecommunication Act (TA). MITA has on 16 July 2004 released a consultation paper seeking feedback from the public on the draft Bill.

The Ministry of Finance is launching a public consultation exercise on Avoidance of Double Taxation Agreements (DTAs), which will take place from 1 July to 31 July 2004.

Stage 2 of the consultation concerns exclusions under Section 4 of the ETA.

The Ministry of Trade & Industry is seeking public feedback on egulations for the purposes of the Manufacture of Optical Discs Act. Details can be found in the Feedback Website.

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