Singapore needs to go beyond tax perks and develop new trump cards, says Heng

Singapore

SINGAPORE needs to develop its competitive advantages beyond tax incentives, given the trend of lower tax rates around the world, said Minister for Finance Heng Swee Keat in Parliament on Monday.

The tax cuts the US is offering companies may enhance its tax competitiveness vis-à-vis other countries, and companies with US linkages are likely to be analysing the details of the US tax reform package and reviewing their options, he said.