International tax reform

A new lease of life for Singapore’s legacy tax incentives 

Policymakers should consider the value in leveraging and re-purposing some of Singapore’s legacy tax incentives in the coming year.

A good tax governance structure signifies lower tax risks and, consequently, reduced tax audits and controversies
THE BROAD VIEW

Tax governance – a blueprint for tax health

“AN OUNCE of prevention is worth a pound of cure,” said Benjamin Franklin.

Companies exploiting gaps between countries’ tax systems cost governments somewhere between US$100 billion and US$240 billion of lost annual revenue, according to the Organisation for Economic Co-operation and Development (OECD).

Asset managers are quietly purging their portfolios of tax risk

There’s a growing sense of unease among asset managers that companies with conspicuously small tax bills pose a financial liability too big to ignore.

With the rollout of BEPS 2.0, would Singapore have to rethink how it attracts foreign investment?
SINGAPORE BUDGET 2024

BT Explains: How might Singapore stay competitive with tax changes under BEPS 2.0?

SINGAPORE is implementing a minimum effective tax rate of 15 per cent for multinational enterprise (MNE) groups from January 2025, in line with global tax changes. But this means the Republic will no ...

Singapore's strength as a global investment magnet depends on the adaptability of its tax system.
SINGAPORE BUDGET 2024

Strategic moves towards future growth and competitiveness

A progressive tax regime will enhance Singapore’s enduring appeal to international firms, investors and talent

Deloitte's recommendations support economic resilience, social stability and innovation in a time of financial uncertainty, environmental change and shifting global dynamics.
SINGAPORE BUDGET 2024

Deloitte proposes tax incentive changes in its Budget 2024 wish list

PROFESSIONAL services firm Deloitte has called for the government to reshape Singapore’s tax incentives and grants regime in its Budget 2024 wish list on Tuesday (Dec 26). 

Iras says that the framework provides for the automatic exchange of tax-relevant information on crypto assets, thus ensuring that recent gains in global tax transparency are not eroded.

Iras commits to implementing crypto-asset reporting framework with 47 other jurisdictions

SINGAPORE and 47 other jurisdictions, including the US, the UK and Australia, said on Friday (Nov 10) that they will work to start automatic exchanges in crypto-asset reporting in 2027.

Foreign-headquartered MNEs in Singapore would certainly fall within the scope of the proposed tax change, but the impact could vary widely.

‘Economic substance’ matters in taxing of foreign asset sales

“SINGAPORE does not tax capital gains” – while this is often cited as a positive feature of Singapore’s tax regime, soon it may no longer be true in certain instances.

Corporate tax leaders are facing challenges such as increased risk of audits, lack of visibility and control over their tax functions, and lagging behind in the digital race.

As the tax environment changes, businesses must drive change from within

THESE are challenging times for corporate tax leaders. From a rapidly changing regulatory landscape to the digitalisation of tax authorities’ systems resulting in the rising need to update processes, ...

Initiatives to attract foreign investment may only come after Budget 2023, as Singapore watches how other jurisdictions adjust to new global tax rules.
SINGAPORE BUDGET 2023

Changes to Singapore’s FDI tax strategy may come only after Budget 2023 

GLOBAL tax changes could prompt Singapore to find new ways to attract foreign direct investment (FDI), such as tax credit schemes, grants, or industry-specific measures – but this may only happen afte...