The Business Times
business-time-50

Singapore among worst hit by investment cutback after US tax reform

google-preferred-sourceAdd BT as a preferred source
Published Sun, Nov 3, 2019 · 09:50 PM
    A slip
    Stacking up

    Singapore

    ONE year after the 2017 US Tax Cuts and Jobs Act (TCJA) kicked in, Singapore is the biggest hit among US major investment destinations, according to figures released recently by the US Department of Commerce.

    With taxes on repatriated US corporate earnings generally eliminated, US multinational corporations (MNCs) withdrew a whopping US$51.4 billion in direct investments from Singapore last year, down about 19 per cent from a cumulative US$270.26 billion in 2017 when the TCJA was introduced.

    TRENDING NOW

    Siranudh Scott had caused an internet sensation with a video accusing his brother of allegedly abusing him during his childhood years.

    ‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse

    Eugene Lai (left) says that he was sharing a view with Tan Chian Khong that the board needed a refresh and that it was not an explicit direction to resign.

    CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh

    SJ Heng, senior director of commerce at Heineken Asia-Pacific, says that a beer's brand is "not determined by the postal code of the brewery".

    Tiger Beer lines up new products as Singapore operations’ role shifts from brewing to innovation

    Granite Asia senior managing partner Jenny Lee (left) and BT wealth editor Genevieve Cua at the inaugural Business Conclave.

    Single founders, billion-dollar valuations: AI is minting unicorn startups at birth

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More