Shaw Towers Realty hits snag in bid to lower proposed tax valuation for Shaw Tower
Tribunal highlights the importance of finality, saying the company should not be allowed to ‘cherry-pick’
Add BT as a preferred source
[SINGAPORE] The High Court has thrown out a bid by Shaw Towers Realty to turn in a lower proposed annual value for its Shaw Tower building on Beach Road, in its upcoming appeal against the taxman.
The annual value is used by the authorities to calculate property tax payable.
The company received a valuation notice from the chief assessor of the Inland Revenue Authority of Singapore that proposed these annual values for two periods: about S$42.3 million from Jan 1, 2021, and around S$44.7 million effective from Jan 13, 2021.
TRENDING NOW
Qatari LNG ship struck in Strait of Hormuz, testing US talks
DBS shares rise 1.9% to hit all-time intraday high as sentiment improves
‘Baptism of fire’: Andre Khor on leading Singapore refiner Aster through an energy crisis
Singapore retains top spot as most expensive city for HNWIs, with five Apac cities in global top 10
