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Full-Text Articles in Law
Personal Service Companies And The Tax Avoidance Surcharge In Singapore, Vincent Ooi, Ben Chester Cheong
Personal Service Companies And The Tax Avoidance Surcharge In Singapore, Vincent Ooi, Ben Chester Cheong
Research Collection Yong Pung How School Of Law
Incorporation of personal service companies provide tax and non-tax advantages. With the introduction of a tax avoidance surcharge in Singapore, incorporation for non-tax advantages risks additional “tax costs” if challenged by the revenue authorities, introducing uncertainty and litigation costs. Instead of relying on a GAAR, targeted measures should restrict tax advantages to the first company incorporated by each individual taxpayer.
The Taxation Of Cryptocurrency Gains, Vincent Ooi
The Taxation Of Cryptocurrency Gains, Vincent Ooi
Research Collection Yong Pung How School Of Law
Taking Singapore as an example, this article lays out a series of tests for determining whether gains arising from the disposal of cryptocurrencies are trade or business income, “all other income” or capital gains. It also considers the possibility of a presumption that individuals engaging in such transactions are gambling.
Taxing "All Other Income" In Singapore And Malaysia, Vincent Ooi
Taxing "All Other Income" In Singapore And Malaysia, Vincent Ooi
Research Collection Yong Pung How School Of Law
Section 10(1)(g) of the Singapore Income Tax Act is a ‘sweeping-up’ provision which catches all income not falling under sections 10(1)(a)–(f). More than 50 years after its introduction, the application of section 10(1)(g) is still unclear despite the test laid out in IB v CIT. This article notes that the current jurisprudence is limited to cases involving gains or profits from the disposal of assets. It argues that the reliance on the Australian Myer Emporium test in IB v CIT was misplaced and that the section 10(1)(g) test should not have a sole focus on intention. Rather, it proposes a …
Partnerships, Vincent Ooi
Partnerships, Vincent Ooi
Research Collection Yong Pung How School Of Law
Partnerships and tax—overview: The statutory definition of a partnership is the “relation which subsists between persons carrying on a business in common with a view of profit”. Those persons could be natural persons, or other legal entities such as companies or trustees. However, a registered company under the Companies Act (Cap. 50) (2006 Rev. Ed.) is not a partnership.
Compliance In The 21st Century: The Exchange Of Tax Information And The Future Of Banking Secrecy In Singapore, Wai Yee Wan
Compliance In The 21st Century: The Exchange Of Tax Information And The Future Of Banking Secrecy In Singapore, Wai Yee Wan
Research Collection Yong Pung How School Of Law
The presentation discusses the future of exchange of tax information and banking secrecy in Singapore