Introducing inheritance tax can stymie entrepreneurism, warns property leader Rachel Teo

[SINGAPORE] Third-generation property leader Rachel Teo believes that any introduction of inheritance tax needs to be carefully thought through, “without stifling entrepreneurship or punishing intergeneration business succession”. 

Speaking on a recent podcast episode of PropertyBT, she argued that business people may consider locating elsewhere, where there is no inheritance tax, should such a levy be introduced here.

She pointed out that small and medium-sized enterprises are an important part of the Singapore economy, and that founders are keen to pass on their businesses and assets to the next generation.