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With effect from 1 September 2019, organizations are generally not allowed to collect, use or disclose National Registration Identity Card numbers and copies of NRIC and other national identification numbers, except in certain specified circumstances. Notwithstanding clear guidance documents issued by the Personal Data Protection Commission, it appears that some organizations continue to collect, use or disclose such national identification numbers in breach of the Personal Data Protection Act.

The Monetary Authority of Singapore (MAS) has released for consultation the proposals in its paper, FI-FI Information Sharing Platform for AML/CFT, which will require Financial Institutions to share with each other information on customers or transactions, where they cross material risk thresholds, on a secured digital platform owned and operated by MAS to be named ‘Collaborative Sharing of ML/TF Information & Cases

In a curated Roundtable session, hosted by the Singapore Economic Development Board (EDB) and Baker McKenzie Wong & Leow, representatives from large multinationals across a diverse range of sectors joined the EDB and the Inland Revenue Authority of Singapore to discuss global tax reforms led by the Organisation for Economic Co-operation and Development and future differentiations in Singapore’s economic strategy.

The Singapore High Court refused a consumer’s attempt to re-file a failed claim after the lower court issued a final and unappealable decision. The consumer first brought a claim against e-commerce platform Lazada at the Small Claims Tribunal. After a decision was made, the consumer applied to the District Court for leave to appeal against the decision. The District Court refused to grant leave to appeal, which, under law, is considered as final. However, the consumer still brought a claim before the High Court, arguing that she was filing a fresh claim in respect of the damages that were not granted. The claim was refused.

Singapore’s Prime Minister Lee Hsien Loong, at his recent National Day Rally speech, acknowledged the anxiety felt by middle income Singaporeans over foreign work pass holders, especially with the economic uncertainty heightened by COVID-19.

Addressing what he described as personal and emotional arguments by Singaporeans over perceived foreign competition for jobs and opportunities, the prime minister signaled that the government will introduce new anti-discrimination laws with a range of penalties extending beyond the current administrative penalties, such as restrictions on an employer from hiring foreign workers.

The Inland Revenue Authority of Singapore (‘IRAS’) updated its transfer pricing guidelines on 10 August 2021, with the release of the IRAS e-Tax Guide: Transfer Pricing Guidelines (Sixth Edition).. IRAS has provided additional guidance and clarification with respect to TP documentation compliance, surcharges on TP adjustments, advanced pricing arrangements and mutual agreement procedure requests.