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Full-Text Articles in Law
General Anti-Avoidance Rules And The Rule Of Law, Vincent Ooi
General Anti-Avoidance Rules And The Rule Of Law, Vincent Ooi
Research Collection Yong Pung How School Of Law
General Anti-Avoidance Rules (“GAARs”) grant tax authorities wide powers to counteract tax avoidance transactions notwithstanding that the taxpayer may have complied with the strict letter of the law. These wide powers raise questions of possible conflicts with fundamental principles such as the Rule of Law, and Distributive and Corrective Justice. The main difficulty arises in attempting to reconcile the need for a GAAR to apply to unpredictable and rapidly developing situations, and the principle of certainty as one of the foundations of the Rule of Law. This paper begins by defining tax avoidance, establishing a moral duty to pay tax …
Singapore's Consistent, Agile Support For Innovation And Ip In A Digital Age, Sam Sim, Vincent Ooi
Singapore's Consistent, Agile Support For Innovation And Ip In A Digital Age, Sam Sim, Vincent Ooi
Research Collection Yong Pung How School Of Law
Singapore has been agile in refining its support for companies investing in the acquisition, development, enhancement and exploitation of intellectual property rights, which is the key to innovation in the digitalised economy of the future.Sam Sim and Vincent Ooi outline the main tax measures announced in recent budgets.
The Case For Redistributive Taxation In Singapore, Vincent Ooi
The Case For Redistributive Taxation In Singapore, Vincent Ooi
Research Collection Yong Pung How School Of Law
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: 1) whether wealth should be taxed; and 2) how wealth should be taxed. The first question is one of moral philosophy while the second is one of tax policy.
Automation Tax Vs Robot-Tax, Vincent Ooi
Automation Tax Vs Robot-Tax, Vincent Ooi
Research Collection Yong Pung How School Of Law
The positive impact of developments in technology on the economy has historically outweighed the disruptive impact on employment. Society has benefited from the efficiency gains derived from the application of technology in production, while workers displaced by these technologies have largely been successfully retrained and employed in other jobs. However, the pace of development of the “Fourth Industrial Revolution” now presents a risk of mass displacement of human labour, particularly in tasks that are repetitive and menial. The “Fourth Industrial Revolution” is characterised by significant progress in a closely-linked cluster of areas such as robot dexterity, machine learning, processing power, …
Taxation Of Automation And Artificial Intelligence As A Tool Of Labour Policy, Vincent Ooi, Glendon Goh
Taxation Of Automation And Artificial Intelligence As A Tool Of Labour Policy, Vincent Ooi, Glendon Goh
Centre for AI & Data Governance
Rapid developments in automation technology pose a risk of massdisplacement of human labour, resulting in the need to support and retraindisplaced workers (a negative externality). We propose an “automation tax”that would slow the adoption of automation technology in appropriatecircumstances, giving workers and social support systems time to adapt. Thiscould be easily implemented through changes to the existing schedular systemof depreciation/ capital allowances, reducing the uncertainty of its applicationand implementation costs. Such a system would be flexible enough to keepup with rapid technological developments. Two main dimensions may beadjusted to produce intended distortionary effects: 1) accelerated depreciation,and 2) bonus depreciation. While …
Proposed Reforms To Singapore Goods And Services Taxation In The Digital Economy, Hern Kuan Liu, Vincent Ooi
Proposed Reforms To Singapore Goods And Services Taxation In The Digital Economy, Hern Kuan Liu, Vincent Ooi
Research Collection Yong Pung How School Of Law
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 dormant “reverse charge” mechanism to collect GST on supplies of services “imported” by businesses; creating an “overseas vendor registration regime” to catch digital products “imported” by individuals; and clarifying the “place of supply” requirement for supplies of digital products. This article considers the reforms from the perspective of a foreign business that …
Taxation Of Automation And Artificial Intelligence As A Tool Of Labour Policy, Vincent Ooi, Glendon Goh
Taxation Of Automation And Artificial Intelligence As A Tool Of Labour Policy, Vincent Ooi, Glendon Goh
Research Collection Yong Pung How School Of Law
Rapid developments in automation technology pose a risk of mass displacement of human labour, resulting in the need to support and retrain displaced workers (a negative externality). We propose an “automation tax” that would slow the adoption of automation technology in appropriate circumstances, giving workers and social support systems time to adapt. This could be easily implemented through changes to the existing schedular system of depreciation/ capital allowances, reducing the uncertainty of its application and implementation costs. Such a system would be flexible enough to keep up with rapid technological developments. Two main dimensions may be adjusted to produce intended …