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Article: Tools for Immediate Regulatory Tax Implementation: Subsidiary Legislation vs Legislation by Press Release

TitleTools for Immediate Regulatory Tax Implementation: Subsidiary Legislation vs Legislation by Press Release
Authors
Issue Date2015
PublisherNational University of Singapore, Faculty of Law. The Journal's web site is located at http://www.law.nus.edu.sg/sjls
Citation
Singapore Journal of Legal Studies, 2015, n. July, p. 1-25 How to Cite?
AbstractA pertinent worry plaguing the implementation of economic regulations is the circumvention manoeuvres conducted by private entities during the time-consuming legislative process typically associated with legal change. During the recent imposition of stamp duties designed to curb its exuberant property market, the Singapore government utilised two distinct mechanisms—subsidiary legislation and legislation by press release—to eliminate any window of tax avoidance arising from the time lapse between the initial public announcements and formal implementation. This Article utilises this episode of economic regulation to examine legal and normative considerations regarding these two mechanisms that can be employed by the executive branch to effect immediate legal change. The Article argues that while both mechanisms are legal and are practically indistinguishable under the current legal framework and political reality in Singapore, the increased possibility of a more competitive political landscape necessitates greater legal constraints on the subsidiary legislation mechanism and greater political awareness of the legislation by press release mechanism.
Persistent Identifierhttp://hdl.handle.net/10722/214184
ISSN
2015 SCImago Journal Rankings: 0.119

 

DC FieldValueLanguage
dc.contributor.authorChen, J-
dc.date.accessioned2015-08-21T10:53:03Z-
dc.date.available2015-08-21T10:53:03Z-
dc.date.issued2015-
dc.identifier.citationSingapore Journal of Legal Studies, 2015, n. July, p. 1-25-
dc.identifier.issn0218-2173-
dc.identifier.urihttp://hdl.handle.net/10722/214184-
dc.description.abstractA pertinent worry plaguing the implementation of economic regulations is the circumvention manoeuvres conducted by private entities during the time-consuming legislative process typically associated with legal change. During the recent imposition of stamp duties designed to curb its exuberant property market, the Singapore government utilised two distinct mechanisms—subsidiary legislation and legislation by press release—to eliminate any window of tax avoidance arising from the time lapse between the initial public announcements and formal implementation. This Article utilises this episode of economic regulation to examine legal and normative considerations regarding these two mechanisms that can be employed by the executive branch to effect immediate legal change. The Article argues that while both mechanisms are legal and are practically indistinguishable under the current legal framework and political reality in Singapore, the increased possibility of a more competitive political landscape necessitates greater legal constraints on the subsidiary legislation mechanism and greater political awareness of the legislation by press release mechanism.-
dc.languageeng-
dc.publisherNational University of Singapore, Faculty of Law. The Journal's web site is located at http://www.law.nus.edu.sg/sjls-
dc.relation.ispartofSingapore Journal of Legal Studies-
dc.titleTools for Immediate Regulatory Tax Implementation: Subsidiary Legislation vs Legislation by Press Release-
dc.typeArticle-
dc.identifier.emailChen, J: jianlin@hku.hk-
dc.identifier.authorityChen, J=rp01530-
dc.identifier.hkuros246814-
dc.identifier.issueJuly-
dc.identifier.spage1-
dc.identifier.epage25-
dc.publisher.placeSingapore-

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