SICC | Singapore International Chamber Of Commerce | Raffles Quay – The voice of international business in Singapore
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6 DEC 2022  |  ISSUE 430

Dear Members and Friends

It is a pleasure to recognize and appreciate the work of our member-exclusive Tax Policy Interest Group (TPIG) co-chaired by Lina Lew of SingTel and Leong Soon San of BP.

You will have noticed this year we have, month by month, recognized and appreciated the work of each of our Interest Groups (IGs). So we should. These are all voluntary groups brought together by a common interest, and often passion, for a particular business area or theme.  While Tax Policy is the last in our alphabetical list, it is by no means the least. After all, taxes are one of only two life certainties!

Thanks to the quiet commitment and dedication of the 40 members of the TPIG, our Chamber has become well-known for our members’ annual budget wish list of tax measures which the Ministry of Finance (MOF) invites us to submit each year. TPIG members are tax accountants, tax managers in companies as well as finance and business professionals.

This year, the TPIG was called upon by the Inland Revenue Authority of Singapore (IRAS) to participate in panel discussions and ad-hoc, closed-door consultation sessions, such as the one on 8 November on “Introducing a Domestic Top-up Tax Regime in Singapore”.

Another achievement this year was the opportunity for the interest group to submit feedback through the Chamber to the OECD on its consultation papers on BEPS 2.0 Pillars 1 & 2 and its Implementation Framework.

In the coming year, the TPIG intends to continue exercising due diligence to develop and compile the Chamber’s budget wish list of tax measures for the Singapore Budget, participate actively in consultation sessions organized by MOF or IRAS and respond to OECD’s consultation papers on international tax developments. In addition, the TPIG will work with other IGs to develop and conduct talks on topics of common interest such as Corporate Tax Governance and Tax Regulatory changes.

My team and I thank the members of the TPIG and all members who give of their time and talent in IGs to serve their interests and those of the wider Chamber membership.

Yours faithfully
Victor Mills
Chief Executive

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