Deterring profit-shifting

Speech by Mr. Louis Ng Kok Kwang, MP for Nee Soon GRC at the Second Reading of the Income Tax (Amendment) Bill [Bill No. 36/2017]   Sir, I welcome the amendments introduced by this Bill, and in particular the shift from a guidance-based approach to a formal transfer pricing regime with the introduction of a mandatory transfer pricing documentation (TPD) requirement. This is a significant step in deterring and addressing profit-shifting behaviour, and would align our practices more closely with international tax developments under the OECD BEPS initiative.....

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Should machinery be exempted from property tax

Speech by Mr. Louis Ng Kok Kwang, MP for Nee Soon GRC at the Second Reading of the Property Tax (Amendment) Bill [Bill No. 35/2017]   Introduction Sir, I support ongoing efforts to go green with the amendments for an opt-out scheme for an electronic service. This Bill also provides IRAS will further enforcement powers to do their duties, but some of which may be considered slightly intrusive. To address this issue, allow me to seek some clarifications on the Bill.....

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Will GST extend to e-commerce?

Speech by Mr. Louis Ng Kok Kwang, MP for Nee Soon GRC at the Second Reading of the Goods and Services Tax (Amendment) Bill [Bill No. 34/2017]   Introduction Sir, I recognise the efforts in this Bill to improve our tax system, particularly to ease burdens on all fronts – for business compliance, for administration by IRAS officers and for the experience of taxpayers. The move towards further digitalisation is also a laudable one, in line with our SMART nation initiative.....

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Clarifying powers of security officers

Speech by Mr. Louis Ng Kok Kwang, MP for Nee Soon GRC at the Second Reading of the Infrastructure Protection Bill [Bill No. 32/2017]   Introduction Sir, I stand in support of this Bill. Enhancement of security measures to buildings and provision of powers to security personnel to better protect Singapore’s infrastructure against security risks is timely, in light of the prevalence of indiscriminate terror attacks carried out globally. Further, I applaud the initiative to rope in the business community as part of the shared effort to keep Singapore safe.....

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