Straits Times: Singapore denies it is a tax haven - Spear's Magazine

Straits Times: Singapore denies it is a tax haven

Singapore is not a tax haven even as the Government cuts the corporate tax rate to 17 per cent this year.

From the Straits Times:

Singapore is not a tax haven even as the Government cuts the corporate tax rate to 17 per cent this year.

The Republic has low but not no tax; strong rule of law; companies with substantive business activities, and it is now considering adopting an internationally-recognised standard for the exchange of tax information, said Senior Minister of State for Finance and Transport Lim Hwee Hua in Parliament on Tuesday.

She was responding to a question from MP Inderjit Singh (Ang Mo Kio GRC) that lowering the corporate tax rate would increase the perception of Singapore as a tax haven.

To read the full article, visit the Straits Times

Spear’s articles on Singapore:

Take the Money and Run
While Liechtenstein still offers discretion and privacy from probing tax authorities, Singapore is proving itself an attractive rival. O’ar Pali reports.

Haven on Earth II
Josh Spero resumes his ABC of global tax-relief hotspots.



 

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