Finance and tax professionals and C-level executives attended the Chamber’s annual dialogue with the Ministry of Finance (MOF) which took place on 16 August 2019. The panel comprised of Ms Doreen Tan, Chief Tax Policy Officer, MOF and Ms Leow Lay Hwa, Tax Director, Corporate Tax Division, IRAS. Ms Leong Soon San, Tax Director, Asia Pacific & Global Transfer Pricing Advisory, BP Singapore and Co-Chair of the Chamber’s Tax Policy Interest Group was the panel moderator.

MOF kicked off the session with an update of key tax measures introduced in Budget 2019 followed by the panel sharing their views on the recent domestic and international tax developments and key economic trends.

Key takeaways from the session:

• capabilities and productivity uplift are key to all our future
• MOF and IRAS are continuously engaging their bilateral partners
• the consistency of the government’s policy towards international tax rules based on the principles of a sound economic basis and the right of tax jurisdictions to set their fiscal policy and
• the need for Singapore to continue supporting international order, by being engaged in international fora to shape the design of international rules and support the consistent implementation of international standards.

We would like to thank our panellists and moderator for taking time to engage Chamber members in this important dialogue as well as Prudential for being the exclusive event sponsor.

 

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