The Infocomm Development Authority of Singapore (IDA) has decided not to appeal against the court ruling made on 30 May 2002, in IDA's suit filed against Singapore Telecommunications Limited (SingTel) to recover the S$388 million provision for tax...
Singapore, 1 July 2002 | For Immediate Release
The Infocomm Development Authority of Singapore (IDA) has decided not to appeal against the court ruling made on 30 May 2002, in IDA's suit filed against Singapore Telecommunications Limited (SingTel) to recover the S$388 million provision for tax. This provision had been included in the S$1.5 billion compensation sum paid to SingTel in March 1997 for the early loss of monopoly rights. IDA (then TAS) had made this provision believing that tax would be payable on the compensation amount. When IRAS informed IDA that tax was not payable on the compensation amount, IDA immediately sought to recover the provision for tax from SingTel.
IDA is disappointed that its case was dismissed. However, after taking legal advice, IDA has decided not to appeal.
Arising from this case, IDA has reviewed its processes. IDA has determined that this was an isolated mistake and not the result of a systemic error or negligence on the part of the officers responsible, and will take steps to ensure that this mistake does not happen again.
ISSUED BY CORPORATE COMMUNICATION DIVISION
INFOCOMM DEVELOPMENT AUTHORITY OF SINGAPORE
About Infocomm Development Authority of Singapore
The Infocomm Development Authority of Singapore (IDA) is a dynamic organisation with an integrated perspective to developing, promoting and regulating info-communications in Singapore. In the fast-changing and converging spheres of telecommunications, information and media technologies, IDA will be the catalyst for change and growth in Singapore's evolution into a vibrant global info-communications technology centre. For more information, visit https://www.imda.gov.sg/.
For media clarifications, please contact:
Ms Jennifer Toh
Assistant Manager, Corporate Communication
Infocomm Development Authority of Singapore
Tel: +65 6211 0508
Fax: +65 6211 2227
Email: jennifer_toh@imda.gov.sg
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