Changes to housing developers’ ABSD remission timelines for complex projects and for CORENET X - A welcome step in the right direction! March 7, 2025 Singapore: On 5 March 2025, the Singapore Government announced changes to the regime for the Additional Buyer’s Stamp Duty (ABSD) remission timelines for licensed housing developers for Complex projects and for approval of building works submitted through CORENET X. We explore these changes and how this is a first step to more changes in the right direction.
Clarifying the role of intention in awarding cost of cure damages: Insights from Terrenus Energy SL2 Pte Ltd v Attika Interior + MEP Pte Ltd March 3, 2025 Singapore: The recent decision in Terrenus Energy SL2 Pte Ltd v Attika Interior + MEP Pte Ltd [2025] SGHC(A) 4 by the Appellate Division of the High Court of Singapore provides significant insights into the principles governing the award of cost of cure damages in construction contracts. This case addresses the contentious issue of whether a claimant's intention to incur the cost of cure is a necessary prerequisite for claiming such damages. The court's reasoning and conclusions offer clarity and guidance on this area of law.
Budget 2025 tax developments February 26, 2025 Singapore: Singapore’s Budget 2025 introduces strategic measures to position itself amid political and economic uncertainties. In this article, we offer insights into the significant tax changes affecting multi-national enterprises and high-net-worth individuals.
Guide to retail success: The sale of jewellery in Singapore February 17, 2025 Singapore: With Singapore continuing to be a prime destination for multinational companies looking to establish retail operations in Asia, understanding the legal framework governing various sectors of the retail industry is critical for success. This article will explore the key requirements that dealers of jewellery or other products comprising precious stones and metals must navigate in order to operate in compliance with Singapore laws.
Competition compliance manuals and protocols: The low hanging case for a RESTORE January 23, 2025 Singapore:Compliance manuals and protocols have always been overlooked in the overall effort and strategy to ensuring compliance with competition laws. With the start of the new year, it is timely to RESTORE this often-overlooked gap which serves as the first line of defence in preventing competition law breaches.
Draft SIAC Insolvency Arbitration Protocol January 23, 2025 Singapore: The draft SIAC Insolvency Arbitration Protocol was recently released for public consultation. According to the SIAC, this is the first proposal by an international arbitral institution to determine insolvency-related disputes by way of arbitration. The Protocol envisages a bespoke mechanism to deal with specific insolvency-related disputes. The SIAC also intends to develop a specialist panel of insolvency arbitrators. We examine the key features of the Protocol, such as streamlined timelines to facilitate the swifter resolution of disputes and the adapting of confidentiality provisions to address disclosure needs.
Changi Airport Group (Singapore) Pte Ltd v Comptroller of Income Tax [2024] SGHC 281 – Capital allowance claims on airport assets January 7, 2025 Singapore: The latest High Court decision on capital allowances reaffirms key principles under Singapore tax law, namely the mutual exclusivity of “plant” and “building” and the ability to analyse assets based on their constituent parts to determine their classification as either “plant” or “building”.