The move is aimed at getting large multinational firms to pay their fair share of taxes, rather than routing profits through low-tax jurisdictions.- ST
ROME (The Straits Times/Asia News Network): Singapore will be in for tougher competition when new rules on a minimum global corporate tax are implemented, said Prime Minister Lee Hsien Loong on Sunday (Oct 31).
Specifically, the decision will impact how the country attracts investments. This is because tax incentives - along with grants and other schemes - are a major tool in the Economic Development Board's arsenal.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
