One size may not fit all

THIS WEEK'S TOPIC: As a business leader, do you support the idea of a global minimum corporate tax rate?

Yeoh Oon Jin Executive Chairman PwC Singapore

As a business leader, I am not in favour of a global minimum corporate tax rate. I believe that focusing on finding an economically sound and principled framework that offers a holistic and robust solution in the longer term should be the basis of any reform, rather than being overly fixated on a minimum rate. A tax system that is aligned with value creation will be more sustainable in light of technological advancements and changes in business models. Such a system will minimise distortion of capital flows and sub-optimal allocation of scarce resources, and will go further in helping to achieve the objectives of curbing base erosion while promoting fairness in cross-border digital taxation.