Business Times - 12 Jun 2010
Feedback on property tax bill wanted
THE Ministry of Finance (MOF) yesterday launched a public consultation to seek feedback on proposed changes to the Property Tax Act.
There will be 12 suggested changes in the draft Property Tax (Amendment) Bill 2010. They are the result of periodic reviews of the property tax system, and 'aim to improve tax administration or provide clarity to taxpayers', MOF said in a release.
One proposed amendment will streamline reporting requirements for property owners - they will no longer need to inform the taxman about certain events, such as when a building is completed or rebuilt.
Another suggested change will allow the Comptroller of Property Tax to recover property tax for redevelopment sites prior to the current year, subject to a time-bar limit of five years.
The public consultation exercise will end on June 25. Consultation documents and explanations for the draft bill are available at MOF's website and the REACH consultation portal.
Copyright © 2010 Singapore Press Holdings Ltd. All rights reserved.
Subscribe to:
Post Comments (Atom)
Pre-development Land Investing
In business for over 30 years, success in providing real estate investment opportunities to clients around the world is a simple, yet effective separation of roles and responsibilites. The four pillars of strength guide the land from the research and acquisition, through to the exit, including the distribution of proceeds to our clients ......
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
To know more how this is really work for you and your clients....
Please contact me Terence Tay @ (+65) 9387-5896 or email : terencetay.kh@gmail.com
Posts
No comments:
Post a Comment