KUALA LUMPUR: Singapore has put in place measures to make it more attractive to the international business community, including enacting a new law exempting international arbitrators from income tax.
“Since May 3, last year, Singapore is probably now the only country in the world with such a clear and specific provision in relation to tax on arbitrator's fees,” said the Singapore International Arbitration Centre's (Siac) executive director and registrar Ang Yong Tong yesterday.
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