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Ministry of Finance (MOF)
Public Consultations

Public Consultation on Draft Stamp Duties (Amendment) Bill 2011

3 August 2011

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  1. The Ministry of Finance is seeking public feedback on 8 proposed legislative amendments under the draft Stamp Duties (Amendment) Bill 2011. We invite you to comment on the proposed amendments.

  2. Your views on the legislative amendments that give effect to policies announced in Budget 2011 will help us improve the draft legislation with regard to its clarity or its implications for efficiency of compliance by taxpayers. The policies themselves had been adopted after debate in Parliament.

  3. For the legislative amendments relating to the non-Budget changes, we welcome comments on both the policy and drafting aspects of the proposed amendments.

SCOPE OF THE CONSULTATION EXERCISE

  1. The draft Stamp Duties (Amendment) Bill 2011 incorporates 8 proposed legislative amendments to the Stamp Duties Act as follows:

  2. The summary table provides a brief description of the tax changes and explains the amendments to the Stamp Duties Act. Please refer to the draft Stamp Duties (Amendment) Bill and its accompanying Explanatory Statement for details.

GUIDELINES

  1. We would appreciate your support to ensure that the consultation exercise is effective. Respondents are requested to follow these guidelines:

  2. This draft legislation is released only for the purpose of public consultation and should therefore not be used for individual or business decisions as it does not represent the final legislation or regulations. All comments received during the consultation will be reviewed thoroughly and, if accepted, will be incorporated in the Bill for subsequent introduction in Parliament.

PERIOD OF CONSULTATION

  1. The draft Stamp Duties (Amendment) Bill 2011 is available for public consultation from 3 to 23 August 2011. Comments received after 23 August 2011 will not be considered for incorporation into the final Bill.

FEEDBACK CHANNEL

  1. We encourage all interested participants to submit your comments via our online submission form . Using this online submission form is the easiest and quickest way for your comments to reach us for consideration. You can also send us your comments, using the prescribed template, through:

SUMMARY OF RESPONSE

  1. We will publish on the Ministry of Finance website a summary of the main comments we received together with our responses by September 2011. The summary will not disclose the identity of respondents, and will not separately address or acknowledge every comment received.

DOCUMENTS TO DOWNLOAD

  1. For your convenience, the relevant documents relating to this public consultation exercise can be downloaded for further reference. Please click here.

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