Singapore Law Blog

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.

Following the close of the public consultation on the proposed draft Competition Bill1, the Ministry of Trade and Industry (MTI) has on 26 July 2004 released a second consultation paper seeking feedback from the public on a revised draft Competition Bill ("draft Bill").

The Ministry of Finance (MOF) is conducting a public consultation exercise to seek comments on the draft Companies (Amendment No 2) Bill 2004.

The draft bill 2004 includes proposed amendments arising from recommendations made by the Company Legislation and Regulatory Framework Committee.

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.

The Ministry of Health (MOH) issued a press statement on 22 June 2004 in response to a newspaper article that 2 Singapore couples have agreed with Clonaid to have babies through cloning.

Apple Computer has lost an appeal at a Chinese Court against the decision of a trademark panel that rejected its application to have its "apple" logo extended to cover clothing and other items in China.

KUALA LUMPUR, June 21-- The lengthy process and delays in patenting inventions have caused Malaysian innovators to lose interest in innovation said Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal.

The Ministry of Law and the Monetary Authority of Singapore had embarked on a major review of the Singapore Trustees Act in 2003.