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Singapore appointed 2 idiots to lead the task force.
- Thread starter LaoTze
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These 2 clowns should be at Changi Airport asking the "Singaporeans" and PRs why they are travelling to and from India during a pandemic.
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This machine should be quite expensive.
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They should disinfect the machine thoroughly after each use.
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from mti.gov:
MINISTER FOR TRADE AND INDUSTRY GAN KIM YONG PARTICIPATES IN THE APEC MINISTERS RESPONSIBLE FOR TRADE MEETING
1. Minister for Trade and Industry Gan Kim Yong represented Singapore at the APEC Ministers Responsible for Trade (MRT) Meeting on 5 June 2021. The virtual meeting was hosted by New Zealand, this year’s APEC Chair, and was attended by Ministers and Senior Officials from the 21 APEC economies. The theme for APEC this year is “Join, Work, Grow. Together.”.
2. At the meeting, Mr Gan highlighted that it was imperative for APEC economies to work collectively to support regional economic recovery and to deliver concrete initiatives in light of the COVID-19 pandemic. He encouraged APEC economies to increase efforts to deepen regional economic integration and advance discussions in the areas of digital cooperation and sustainable development.
3. In a joint statement after the meeting, the APEC Ministers acknowledged the essential role of trade to effectively mitigate the impact of the COVID-19 pandemic and the importance of a free, open and fair multilateral trading system. They reaffirmed their commitment to ensure that the trading environment supports the safe and efficient distribution of COVID-19 vaccines. To this end, the APEC economies will expedite the flow and transit of all COVID19 vaccines and related goods.
4. The APEC Ministers agreed to prioritise identifying barriers to trade in services that could hinder the movement of essential goods, and to ensure alignment with WTO and preferential trade agreement obligations and commitments. They also committed to enhancing coordination, efficiency and transparency around transport and logistical services, including those required for the border clearance of essential goods.
5. The APEC Ministers also committed to support the ongoing WTO reforms, and play a constructive role to deliver meaningful outcomes on areas including e-commerce, environmental sustainability, and micro, small and medium sized enterprises (MSMEs) at the 12th WTO Ministerial Conference in November. 6. On the side-lines of the MRT meeting, Mr Gan participated in a Ministers’ dialogue with the APEC Business Advisory Council (ABAC) on 4 June, alongside ABAC Singapore’s representative, and CEO of the Singapore Business Federation, Mr Lam Yi Young. Mr Gan emphasised the importance of maintaining open supply chains, adopting trade facilitative measures and called for APEC to strengthen its collaborations with ABAC, in order for evolving policies to be attuned to the needs of our business communities.
MINISTER FOR TRADE AND INDUSTRY GAN KIM YONG PARTICIPATES IN THE APEC MINISTERS RESPONSIBLE FOR TRADE MEETING
1. Minister for Trade and Industry Gan Kim Yong represented Singapore at the APEC Ministers Responsible for Trade (MRT) Meeting on 5 June 2021. The virtual meeting was hosted by New Zealand, this year’s APEC Chair, and was attended by Ministers and Senior Officials from the 21 APEC economies. The theme for APEC this year is “Join, Work, Grow. Together.”.
2. At the meeting, Mr Gan highlighted that it was imperative for APEC economies to work collectively to support regional economic recovery and to deliver concrete initiatives in light of the COVID-19 pandemic. He encouraged APEC economies to increase efforts to deepen regional economic integration and advance discussions in the areas of digital cooperation and sustainable development.
3. In a joint statement after the meeting, the APEC Ministers acknowledged the essential role of trade to effectively mitigate the impact of the COVID-19 pandemic and the importance of a free, open and fair multilateral trading system. They reaffirmed their commitment to ensure that the trading environment supports the safe and efficient distribution of COVID-19 vaccines. To this end, the APEC economies will expedite the flow and transit of all COVID19 vaccines and related goods.
4. The APEC Ministers agreed to prioritise identifying barriers to trade in services that could hinder the movement of essential goods, and to ensure alignment with WTO and preferential trade agreement obligations and commitments. They also committed to enhancing coordination, efficiency and transparency around transport and logistical services, including those required for the border clearance of essential goods.
5. The APEC Ministers also committed to support the ongoing WTO reforms, and play a constructive role to deliver meaningful outcomes on areas including e-commerce, environmental sustainability, and micro, small and medium sized enterprises (MSMEs) at the 12th WTO Ministerial Conference in November. 6. On the side-lines of the MRT meeting, Mr Gan participated in a Ministers’ dialogue with the APEC Business Advisory Council (ABAC) on 4 June, alongside ABAC Singapore’s representative, and CEO of the Singapore Business Federation, Mr Lam Yi Young. Mr Gan emphasised the importance of maintaining open supply chains, adopting trade facilitative measures and called for APEC to strengthen its collaborations with ABAC, in order for evolving policies to be attuned to the needs of our business communities.
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from straitstimes.com:
SINGAPORE - It is too early to say how the global corporate tax rule changes proposed by the Group of Seven (G-7) will impact Singapore, but the Republic's overall competitiveness has never been based on taxation alone, Finance Minister Lawrence Wong said on Tuesday (June 8).
In a Facebook post, Mr Wong also said that Singapore will change its corporate tax system after a global consensus is reached on the new international rules. Any tax changes would be in close consultation with businesses and tax professionals here, he added.
Before that, Singapore will be participating in the broader debate on the proposed tax changes in international forums, said Mr Wong.
G-7 finance ministers reached a landmark accord last Saturday backing the creation of a global minimum corporate tax rate of at least 15 per cent, an agreement that may go on to form the basis of a worldwide deal.
Major economies are aiming to discourage multinationals from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made.
Details are still being worked out, and the issue will be discussed among G-7 leaders meeting this weekend as well as by Group of 20 (G-20) finance ministers next month.
"Singapore is not a G-20 member, but we have been invited to attend, and I look forward to sharing our views then, and contributing to the broader debate," said Mr Wong.
He said that while it is clear that international rules for corporate taxation will change, and all jurisdictions will need to adjust their tax systems and rules accordingly, it is too early now to say how it would impact Singapore.
However, three things will not change for Singapore, the minister said.
"First, we will continue to support a multilateral consensus-based solution that is anchored on sound economic principles, promotes tax certainty, and ensures a level playing field across all jurisdictions.".
Second, as and when a global consensus is reached on the above framework, the Ministry of Finance and the Inland Revenue Authority of Singapore will make any necessary changes to Singapore's corporate tax system, in close consultation with businesses and tax professionals, said Mr Wong.
"Third, our overall competitiveness has never been based on taxation alone. It's about ensuring a conducive environment for businesses and entrepreneurs to thrive."
The finance chief stressed that the new rules should not inadvertently weaken the incentives for businesses to invest and innovate. Otherwise, countries will all be worse off, fighting over their share of a shrinking revenue pie, he said.
He also noted that trust, reliability and integrity are ultimately what makes Singapore an attractive place for substantial economic activities.
"We will continue to strengthen these attributes, to create good jobs and opportunities for all Singaporeans."
As for the revenue impact on Singapore of any global tax rule changes, it will depend on the parameters being set, the rules to be made, and crucially, how different governments and businesses respond to them, Mr Wong said.
The minister said the G-7 proposals will be further discussed at other international platforms. One of them is the Organisation for Economic Cooperation and Development-led Inclusive Framework on Base Erosion and Profit Shifting in which Singapore is already involved.
Financial experts believe that beyond an attractive tax regime, Singapore's strength derives from its stable political environment, trustworthy legal framework and connectivity to regional and global economies.
Mr Ajay Kumar Sanganeria, partner and head of tax at accounting firm KPMG, said; "Singapore's strategic geographic location, regional and global connectivity and a business environment based on a strong rule of law are critical ingredients to attracting global businesses."
However, he said the financial impact of these proposed rules is not easy to calculate, even for individual multinationals, given complex taxpayer facts and circumstances.
Ms Liew Li Mei, international tax leader at Deloitte, said Singapore offers a proven track record of being stable and predictable and if it continues to do that, multinational companies will continue to operate from Singapore even after their tax incentives expire.
"It is therefore imperative that Singapore continues to strengthen its attractiveness for inbound investments – global connectivity, political stability, pro-business environment, diverse talent pool and importantly, the innovative and resilient spirit of Singapore – to ensure that we remain one of the top choice investment destinations."
Too early to say how landmark G-7 corporate tax deal will impact Singapore: Lawrence Wong
SINGAPORE - It is too early to say how the global corporate tax rule changes proposed by the Group of Seven (G-7) will impact Singapore, but the Republic's overall competitiveness has never been based on taxation alone, Finance Minister Lawrence Wong said on Tuesday (June 8).
In a Facebook post, Mr Wong also said that Singapore will change its corporate tax system after a global consensus is reached on the new international rules. Any tax changes would be in close consultation with businesses and tax professionals here, he added.
Before that, Singapore will be participating in the broader debate on the proposed tax changes in international forums, said Mr Wong.
G-7 finance ministers reached a landmark accord last Saturday backing the creation of a global minimum corporate tax rate of at least 15 per cent, an agreement that may go on to form the basis of a worldwide deal.
Major economies are aiming to discourage multinationals from shifting profits - and tax revenues - to low-tax countries regardless of where their sales are made.
Details are still being worked out, and the issue will be discussed among G-7 leaders meeting this weekend as well as by Group of 20 (G-20) finance ministers next month.
"Singapore is not a G-20 member, but we have been invited to attend, and I look forward to sharing our views then, and contributing to the broader debate," said Mr Wong.
He said that while it is clear that international rules for corporate taxation will change, and all jurisdictions will need to adjust their tax systems and rules accordingly, it is too early now to say how it would impact Singapore.
However, three things will not change for Singapore, the minister said.
"First, we will continue to support a multilateral consensus-based solution that is anchored on sound economic principles, promotes tax certainty, and ensures a level playing field across all jurisdictions.".
Second, as and when a global consensus is reached on the above framework, the Ministry of Finance and the Inland Revenue Authority of Singapore will make any necessary changes to Singapore's corporate tax system, in close consultation with businesses and tax professionals, said Mr Wong.
"Third, our overall competitiveness has never been based on taxation alone. It's about ensuring a conducive environment for businesses and entrepreneurs to thrive."
The finance chief stressed that the new rules should not inadvertently weaken the incentives for businesses to invest and innovate. Otherwise, countries will all be worse off, fighting over their share of a shrinking revenue pie, he said.
He also noted that trust, reliability and integrity are ultimately what makes Singapore an attractive place for substantial economic activities.
"We will continue to strengthen these attributes, to create good jobs and opportunities for all Singaporeans."
As for the revenue impact on Singapore of any global tax rule changes, it will depend on the parameters being set, the rules to be made, and crucially, how different governments and businesses respond to them, Mr Wong said.
The minister said the G-7 proposals will be further discussed at other international platforms. One of them is the Organisation for Economic Cooperation and Development-led Inclusive Framework on Base Erosion and Profit Shifting in which Singapore is already involved.
Financial experts believe that beyond an attractive tax regime, Singapore's strength derives from its stable political environment, trustworthy legal framework and connectivity to regional and global economies.
Mr Ajay Kumar Sanganeria, partner and head of tax at accounting firm KPMG, said; "Singapore's strategic geographic location, regional and global connectivity and a business environment based on a strong rule of law are critical ingredients to attracting global businesses."
However, he said the financial impact of these proposed rules is not easy to calculate, even for individual multinationals, given complex taxpayer facts and circumstances.
Ms Liew Li Mei, international tax leader at Deloitte, said Singapore offers a proven track record of being stable and predictable and if it continues to do that, multinational companies will continue to operate from Singapore even after their tax incentives expire.
"It is therefore imperative that Singapore continues to strengthen its attractiveness for inbound investments – global connectivity, political stability, pro-business environment, diverse talent pool and importantly, the innovative and resilient spirit of Singapore – to ensure that we remain one of the top choice investment destinations."
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Lawrence Wong
30 mins ·Our team at work, and at the MTF press conference this afternoon. Thanks to everyone’s cooperation, we have been able to bring the latest outbreak under control and are now ready to exit Phase 2 (Heightened Alert). We will do so in two stages. First, group sizes will increase from 2 to 5 on 14 June. Capacity and size limits will also increase for various venues and events. Second, we will resume higher-risk activities like F&B dining-in, gyms and fitness centres, in-person tuition and enrichment classes etc on 21 June.
We are reopening in a controlled manner over the new few weeks, even as we continue to ramp up our vaccination rates. We expect about 50% of the population to be fully vaccinated in August; by October we should reach 75% or more. As we progress along these stages, we will further evolve our public health posture and progressively resume more activities. We will move to Phase 3 and beyond, and eventually to a “new normal” phase of living with endemic Covid.
We have a roadmap for the journey ahead and are moving on the right track. Let’s continue to stay focused and united, and work together to reopen safely.
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Lawrence Wong
1 hr ·IRAS is our tax administrator; but they do much more than that. They also play an important role in disbursing grants to enterprises, be it through the Job Support Scheme or the latest Rental Relief Scheme.
The work that IRAS officers do is often not visible to the public eye. But a lot of heavy lifting happens behind the scenes each time Ministry of Finance (Singapore) announces a new scheme. The officers have to work out the operations, ensure effective implementation, and promptly address any public queries or appeals. So the IRAS officers have been working extra hard throughout this pandemic. Although the hours are long, our officers share a common desire to do their part to help workers and companies through these tough times.
Like many Singaporeans, IRAS officers also have to adapt to working remotely. Some like Kwee Yong have to juggle their work with their responsibilities as young parents. Others like Taikhoom and Damien have adapted to using digital tools, and are now highly productive when working from home!
Thanks for the chat everyone, and thanks for your commitment and dedication in serving Singapore and our fellow Singaporeans!
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from straitstimes.com:
SINGAPORE - Singapore is aiming for half its residents to be fully vaccinated by August, and at least 75 per cent by October.
As at Monday (June 7), more than 1.8 million people, or about 30 per cent of the population, have been fully vaccinated.
Finance Minister Lawrence Wong gave the projection at a news conference on Thursday (June 10), as he noted that the United States saw infection rates steadily come down - from a peak in January this year - when about half the population developed immunity to the coronavirus which causes Covid-19.
He added that more than 40 per cent of people in the US are fully vaccinated, and about 10 per cent have been infected with the virus.
Singapore has not reached that level of immunity yet, but "we will get there soon", said Mr Wong.
In his national address on May 31, Prime Minister Lee Hsien Loong said the country's target is for everyone who is eligible for a vaccination and wants everyone to get at least their first jab by National Day on Aug 9.
With a higher vaccination rate, compliance with social distancing and safe management measures, regular testing, and faster and more comprehensive contact tracing, Singapore will ease restrictions and gradually restore "our normal lives, both within Singapore and at our borders", said Mr Wong, who is co-chair of the multi-ministry task force tackling Covid-19.
For now, phase two (heightened alert) measures will be rolled back from Monday in a cautious and controlled manner, while maintaining strict controls at borders.
The maximum group size for social gatherings will increase from two people to five, among other relaxation of rules.
The second stage of the reopening will happen from June 21, when dining in at eateries may be allowed, with a maximum group size of five.
Such restrictions are needed in phase three (heightened alert) until Singapore's vaccination rate is higher, said Mr Wong.
"It is not quite the full phase three, we call this phase three (heightened alert) because there are still these restrictions in place."
The announcement on the relaxation of rules comes amid a decline in community cases in the past three weeks.
Mr Wong said: "As we progress through these stages (of reopening), we will ease our restrictions and gradually restore our normal lives, both within Singapore and at our borders. Then we will move to phase three, and even beyond phase three, to a new normal phase of living with endemic Covid."
Target for 3 in 4 residents to be fully vaccinated against Covid-19 by October: Lawrence Wong
SINGAPORE - Singapore is aiming for half its residents to be fully vaccinated by August, and at least 75 per cent by October.
As at Monday (June 7), more than 1.8 million people, or about 30 per cent of the population, have been fully vaccinated.
Finance Minister Lawrence Wong gave the projection at a news conference on Thursday (June 10), as he noted that the United States saw infection rates steadily come down - from a peak in January this year - when about half the population developed immunity to the coronavirus which causes Covid-19.
He added that more than 40 per cent of people in the US are fully vaccinated, and about 10 per cent have been infected with the virus.
Singapore has not reached that level of immunity yet, but "we will get there soon", said Mr Wong.
In his national address on May 31, Prime Minister Lee Hsien Loong said the country's target is for everyone who is eligible for a vaccination and wants everyone to get at least their first jab by National Day on Aug 9.
With a higher vaccination rate, compliance with social distancing and safe management measures, regular testing, and faster and more comprehensive contact tracing, Singapore will ease restrictions and gradually restore "our normal lives, both within Singapore and at our borders", said Mr Wong, who is co-chair of the multi-ministry task force tackling Covid-19.
For now, phase two (heightened alert) measures will be rolled back from Monday in a cautious and controlled manner, while maintaining strict controls at borders.
The maximum group size for social gatherings will increase from two people to five, among other relaxation of rules.
The second stage of the reopening will happen from June 21, when dining in at eateries may be allowed, with a maximum group size of five.
Such restrictions are needed in phase three (heightened alert) until Singapore's vaccination rate is higher, said Mr Wong.
"It is not quite the full phase three, we call this phase three (heightened alert) because there are still these restrictions in place."
The announcement on the relaxation of rules comes amid a decline in community cases in the past three weeks.
Mr Wong said: "As we progress through these stages (of reopening), we will ease our restrictions and gradually restore our normal lives, both within Singapore and at our borders. Then we will move to phase three, and even beyond phase three, to a new normal phase of living with endemic Covid."
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