Singapore’s Finance Minister Heng Swee Keat announced tax changes in his 2019 budget statement, which was delivered in Parliament on February 18 2019. These changes need to be appreciated in the broader context of the need for ongoing transformation of Singapore’s economy to capture...

In light of the recent debate on whether Singapore should consider imposing wealth and inheritance taxes on ultra-high net worth individuals, this article seeks to address two key questions: whether wealth should be taxed and how it should be taxed. The first question is one of moral philosophy...

Section 10(1) of the Income Tax Act (Cap. 134, 2014 Rev. Ed.) (“ITA”) is the charging provision which provides for income tax to be payable for each year of assessment (“YA”) upon the income of any person. Income is taxable if it falls within one of the enumerated heads of charge under...

With the rapid development of the digital economy and the increasing importance of GST as a source of tax revenue, the Singapore Government has proposed several reforms to tighten the collection of tax revenue and tap its tax base more efficiently. The reforms focus on activating the currently...

This article sets out the tax landscape for philanthropic giving in Singapore in detail. Notably, Singapore recently enacted a new s 10J that governs appropriations of trading stock for purposes outside the ordinary course of business (which might be seen as somewhat of a codification of the...

The advent of the digital economy has had profound implications for taxation. Tax systems have been forced to adapt as they become increasingly unsuited for the realities of modern commerce. While Singapore has largely followed international developments, particularly in the area of...

This chapter is divided into three main parts: 1) international tax law, 2) domestic tax law, and 3) tax and regulation. The first part deals with the international tax system and the way it has been affected by technology. This part will focus on income tax. Existing rules of nexus,...

Precious stones and metals have commonly been used throughout the world as a conduit for terrorism and money laundering activities. Such illicit use of these assets has called for its much-needed attention from a regulatory perspective. This is particularly relevant in a financial haven such as...

A strong reciprocal relationship has existed between Singapore Company Law (“SCL”) and the economy since Independence in 1965. Swift Parliamentary responses to economic events and successful implementation of Government policies has made it possible to clearly attribute cause and effect to...