Decision on Singapore-Malaysia railway land tax to be out soon
Singapore-KL dispute over fee submitted for arbitration
Published on Aug 26, 2014 8:02 AM
A dispute between Singapore and Malaysia over a tax levied on parcels of former railway land will be resolved soon, with a decision by a London arbitration panel expected in a "few months".
The fee, which was reported by Malaysian business weekly The Edge Review as $1.4 billion, is a development charge payable to Singapore.
Malaysia is opposing the payment.
The issue follows from the resolution in 2010 of a 20-year impasse between the two countries over a Points of Agreement (POA) that was signed in 1990 by Singapore's then prime minister Lee Kuan Yew with Malaysia's then finance minister Daim Zainuddin.
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