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Singapore needs to remain competitive

To continue to attract foreign direct investments from multinational corporations, it should focus on its existing trump card - tax competitiveness.

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While there is no immediate need to reduce the corporate income tax rate in Singapore, continual monitoring of global and regional trends in CIT rates is necessary.

SINCE independence, Singapore has stood out in the Asia-Pacific for attracting foreign direct investments (FDI) through its free, open and diversified economy.

However, global competition is intensifying. Our Asia-Pacific neighbours are enhancing their own competitiveness, and some of our

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