Now than IRAS discover this property loophole
#1

https://www.facebook.com/TheStraitsTimes...nl?__cft__
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#2

Which Ministry approved 99-1? Never informed Iras?
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#3

I think they know long time ago but dunwan to do anything.
[+] 2 users Like Blasterlord2's post
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#4

In Singapore, never never try to use any loopholes to avoid tax. What they are watching now is not only this BUT those Who use the PR convert to SG Citizen with intention to give up the citizenship later loopholes to buy our landed. Dun say I never warn, later happen like this ABSD case
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#5

(01-04-2023, 08:21 PM)*天哥* Wrote:  In Singapore, never never try to use any loopholes to avoid tax. What they are watching now is not only this BUT those Who use the PR convert to SG Citizen with intention to give up the citizenship later  loopholes to buy our landed. Dun say I never warn, later happen like this ABSD case

I don't agree.  Any loophole quickly use before the door closed.  IRAS only need just an explanation if you are good at spinning story..
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#6

clawback time
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#7

so the 99to1 already happened sometime ago and it seemed to be divised by some reL estate agents! very clever sia. this website had commented abt this issue last year..

https://cos.sg/blog-post/the-risks-of-bu...o-1-share/
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#8

(01-04-2023, 08:21 PM)*天哥* Wrote:  In Singapore, never never try to use any loopholes to avoid tax. What they are watching now is not only this BUT those Who use the PR convert to SG Citizen with intention to give up the citizenship later  loopholes to buy our landed. Dun say I never warn, later happen like this ABSD case

IRAS has no case if it tries to prosecute anybody for using this loophole to avoid paying ABSD tax. 

It's not the job of society to self-police and close legal loopholes on behalf of legislating politicians who wrote the laws in the first place. When comes to money, do everything exactly as black and white states and indicates. Nobody is obliged to pay more than what is legally demanded if they find a way to avoid it.

SG is a tax haven. We help so many people and international companies avoid taxation in their home jurisdictions too. Hypocrisy much?

SEE ONE WUMAO, KILL ONE WUMAO!!! 
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#9

purposely huan lah

like Keppel
all pretend pretend not to know
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#10

(01-04-2023, 11:09 PM)Basic_Strategy Wrote:  IRAS has no case if it tries to prosecute anybody for using this loophole to avoid paying ABSD tax. 

It's not the job of society to self-police and close legal loopholes on behalf of legislating politicians who wrote the laws in the first place. When comes to money, do everything exactly as black and white states and indicates. Nobody is obliged to pay more than what is legally demanded if they find a way to avoid it.

SG is a tax haven. We help so many people and international companies avoid taxation in their home jurisdictions too. Hypocrisy much?

I agree with this view. IRAS has no case at all.
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