logo
Iras Board to welcome new chairman on May 1

Iras Board to welcome new chairman on May 1

Straits Times25-04-2025
Mr Lai Chung Han (left) will take over from Mrs Tan Ching Yee (right) from May 1. PHOTO: PUBLIC SERVICE DIVISION
Iras Board to welcome new chairman on May 1
SINGAPORE - The Board of Inland Revenue Authority of Singapore (Iras Board) will welcome Mr Lai Chung Han as its new chairman on May 1 .
Appointed by the Minister for Finance , Mr Lai, 52 , will take over from Mrs Tan Ching Yee , according to a media statement from the Ministry.
Mr Lai, who is also the incoming permanent secretary (finance) , was previously appointed as the p ermanent secretary (development), Ministry of Finance in July 2024.
In 2022 , he was awarded the Public Administration Medal ( G old) by the President of Singapore.
Mr Lai has also held various command staff appointments throughout his military career, serving as d eputy secretary (policy), Ministry of Defence from 2012 , and as c hief of Navy from 2014.
He was appointed second permanent secretary (education) and second permanent secretary (home affairs) in 2017 , and later served as permanent secretary (education) from 2019.
Serving as the board's chairman since May 1, 2016 , Mrs Tan, who is 60 , has led Iras in strengthening its international standing to better serve the R epublic.
Iras represented Singapore on the Organisation for Economic Cooperation and Development (OECD) Forum on Tax Administration as a b ureau member.
Iras has also administered national grants schemes such as the Uplifting Employment Credit, the Progressive Wage Credit Scheme, and the Rental Support Scheme, to support businesses and workers alike.
With Mrs Tan helming the board, Iras upgraded its digital infrastructure to serve taxpayers better and enhance compliance efforts. This include d successful generational upgrade in the information technology system for property tax, stamp duties and individual income tax, among other improvements.
'The Ministry of Finance and the Inland Revenue Authority of Singapore welcome Mr Lai to the board and would like to express our deep appreciation to outgoing chairman, Mrs Tan Ching Yee, for her significant contributions to the Iras Board,' the statement read.
Join ST's WhatsApp Channel and get the latest news and must-reads.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Japan's exports fall most in four years as tariff pain deepens
Japan's exports fall most in four years as tariff pain deepens

Business Times

time4 hours ago

  • Business Times

Japan's exports fall most in four years as tariff pain deepens

[TOKYO] Japan's exports sustained their steepest drop in more than four years as US tariffs continued to weigh on global commerce, clouding the outlook for economic growth at a time when personal spending remains unsteady. Exports fell 2.6 per cent in value in July from a year earlier, sliding more than the median forecast of a 2.1 per cent decline, the Ministry of Finance reported on Wednesday (Aug 20). The downturn, led by cars, auto parts and steel, was the biggest since February 2021. Export volumes rose by 1.2 per cent, suggesting exporters are continuing to absorb US tariff costs by cutting selling prices to preserve market share. Imports decreased 7.5 per cent and the trade balance flipped to a deficit of 117.5 billion yen. The latest slide in exports may strengthen concerns over whether Japan's economy can continue to expand as US President Donald Trump's tariffs weigh on global trade. While the economy has so far managed to eke out growth in the last five quarters despite weakness in domestic consumption, further drops in exports could drag the economy into reverse. Continued falls in exports may also encourage the Bank of Japan (BOJ) to adopt a cautious stance. The ability of the economy to show resilience in the face of the US duties is a factor in the calculus for the BOJ as it considers the best timing for its next interest rate hike. The BOJ is widely expected to stand pat when it next sets policy on Sep 19. The report showed that exports to the US dropped by 10.1 per cent last month from a year earlier, with shipments of vehicles and auto parts plunging 28.4 per cent and 17.4 per cent, respectively. Shipments to the US of semiconductor manufacturing equipment fell 31.3 per cent. In April, the US imposed a 25 per cent tariff on imports of Japanese cars and auto parts and a 10 per cent duty on most other goods. A levy on imports of steel was doubled to 50 per cent in early June. The levies on cars and broad-based goods will be assessed at 15 per cent under a trade deal reached in late July, although it may take some time for that deal to be implemented. Written documentation on the trade deals agreed to with Japan and South Korea are 'weeks away', US Commerce Secretary Howard Lutnick said Tuesday in an interview with CNBC. Beyond the US, exports to China fell 3.5 per cent, while shipments to Europe declined by 3.4 per cent. The yen averaged 145.56 per the US dollar in July, 8.9 per cent stronger than a year earlier, according to the Finance Ministry. BLOOMBERG

Japan exports fall most in four years as tariff pain deepens
Japan exports fall most in four years as tariff pain deepens

Straits Times

time4 hours ago

  • Straits Times

Japan exports fall most in four years as tariff pain deepens

Sign up now: Get ST's newsletters delivered to your inbox Exports to the US fell 10.1 per cent in July, with shipments of vehicles and auto parts plunging 28.4 per cent and semiconductor manufacturing equipment sliding 31.3 per cent. TOKYO - Japan's exports sustained their steepest drop in more than four years as US tariffs continued to weigh on global commerce, clouding the outlook for economic growth at a time when personal spending remains unsteady. Exports fell 2.6 per cent in value in July from a year earlier, sliding more than the median forecast of a 2.1 per cent decline, the Ministry of Finance reported on Aug 20. The downturn, led by cars, auto parts and steel, was the biggest since February 2021. Export volumes rose by 1.2 per cent, suggesting exporters are continuing to absorb US tariff costs by cutting selling prices to preserve market share. Imports decreased 7.5 per cent and the trade balance flipped to a deficit of 117.5 billion yen (S$1 billion). The latest slide in exports may strengthen concerns over whether Japan's economy can continue to expand as US President Donald Trump's tariffs weigh on global trade. While the economy has so far managed to eke out growth in the last five quarters despite weakness in domestic consumption, further drops in exports could drag the economy into reverse. Exports to the United States dropped by 10.1 per cent in July from a year earlier, with shipments of vehicles and auto parts plunging 28.4 per cent and 17.4 per cent, respectively. Shipments to the US of semiconductor manufacturing equipment slid 31.3 per cent. In April the US imposed a 25 per cent tariff on imports of Japanese cars and auto parts and a 10 per cent duty on most other goods. A levy on imports of steel was doubled to 50 per cent in early June. The levies on cars and broad-based goods will be assessed at 15 per cent under a trade deal reached in late July, although it may take some time for that deal to be implemented. Written documentation on the trade deals agreed to with Japan and South Korea are 'weeks away,' US Commerce Secretary Howard Lutnick said on Aug 19 in an interview with CNBC. Beyond the US, exports to China fell 3.5 per cent, while shipments to Europe declined 3.4 per cent. Continued falls in exports may also encourage the Bank of Japan (BOJ) to adopt a cautious stance. The ability of the economy to show resilience in the face of the US duties is a factor in the calculus for the BOJ as it considers the best timing for its next interest rate hike. The BOJ is widely expected to stand pat when it next sets policy on Sept 19. The yen averaged 145.56 per the US dollar in July, 8.9 per cent stronger than a year earlier, according to the Finance Ministry. BLOOMBERG

Former Hong Kong lawmaker says Australian asylum grant shows territory infringed rights, World News
Former Hong Kong lawmaker says Australian asylum grant shows territory infringed rights, World News

AsiaOne

time2 days ago

  • AsiaOne

Former Hong Kong lawmaker says Australian asylum grant shows territory infringed rights, World News

SYDNEY — Exiled former Hong Kong lawmaker Ted Hui hailed on Monday (Aug 18) Australia's grant of asylum status as a key acknowledgement of the territory's human rights infringements since its authorities quelled massive pro-democracy protests in 2019. Hui, who also urged support for businessman Jimmy Lai now being tried on national security charges, received asylum on Friday, more than four years after leaving Hong Kong, which has offered a bounty for him on criminal charges over the protests. "It is recognition by the Australian government that human rights infringements and erosion of democracy and freedom actually happened and justified granting asylum to people like me... being persecuted because of the protests," Hui said. "I believe this is good for Australia to have that recognition and I am grateful for the country, which has given me so much," he told Reuters in an interview. China's foreign ministry on Monday said Hui was an "anti-China rioter wanted by the Hong Kong police" and urged other countries to "stop interfering in Hong Kong affairs". Australian visa data reviewed by Reuters showed it had approved no asylum claims by citizens of the Asian financial hub since January 2021, and rejected five in 2023. Hui, who is working as a lawyer in South Australia, said the good news for his family came in a week during which he was concerned over Hong Kong's trial of his friend, the pro-democracy businessman Lai, on national security charges. "Jimmy Lai is very iconic of Hong Kong's resistance because he actually had the ability to leave Hong Kong but he decided to stay," he said. "That is very noble of him." Before his arrest, Lai had described himself to Hui as being "like a captain of a ship" in support of democratic values and would "sink with the ship". Hui added, "He deserves democracy's help in rescuing him when he is in a deep plight and he is not well." Lai, 77, received medication and a heart monitor for the start of the trial's final submissions, prompted by health concerns aroused by heart palpitations. Australia's Foreign Minister Penny Wong raised concerns with her Chinese counterpart Wang Yi in a meeting last month about anonymous letters circulated in South Australia offering rewards for information about Hui and his family. The Australian Federal Police were investigating the matter, Hui said. "They call me to check on my safety and that of my family...," he said. "I can say the AFP is putting in a lot of effort." A police spokesman declined to comment. After Hui and his family arrived in 2021, 123 Hong Kong citizens have made asylum claims in Australia. Many more have taken up skilled visas under a programme launched in 2021 for Hong Kong citizens to stay permanently, data shows. The home affairs department did not immediately respond to a request for comment. In a statement, the government of the former British colony said it was "against the harbouring of criminals in any form by any country". Chinese foreign ministry spokesperson Mao Ning told reporters Beijing hoped Australia would work with China to ensure "sustained bilateral relations" when asked about the case at a regular press conference on Monday. [[nid:721431]]

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store