Singapore considers modifying incentives as G20 leaders back tax deal

FILE PHOTO: U.S. Vice President visits Singapore

SINGAPORE: Singapore will consider how to modify its tax incentives, its prime minister said, after leaders of the world's 20 biggest economies endorsed a global minimum tax aimed at stopping big business from hiding profits in tax havens.

The minimum tax rate will impact how Singapore attracts investments, as tax incentives have been "one of the major tools" used by the city-state's Economic Development Board, together with grants and other schemes, Lee Hsien Loong said, in comments published by local media on Monday.