Singapore Budget 2016: Relook Singapore's tax structure for greater competitiveness: EY
Ahead of the Budget, it suggests offering incentives to encourage R&D, and lowering GST registration threshold
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Singapore
SINGAPORE should examine its tax structure for ways to make its economy more competitive - such as by giving incentives for research and development (R&D) and by tweaking its approach to the goods and services tax (GST) to support government spending, says Ernst & Young (EY).
The firm's head of tax services Chung-Sim Siew Moon said: "We propose that Singapore's income tax system be simplified and made more competitive to promote Singapore as Asia's business and financial hub, and that certain policies be tweaked to ease business costs and promote business growth."
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