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Low-tax Singapore cites trusted reputation as key for businesses after G7 plan

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Singapore's trusted reputation and solid fundamentals, such as its skilled workforce, are more important factors than ever, its Economic Development Board said, after a plan by the world's rich nations for a global minimum corporate tax rate.

View of the central business district skyline in Singapore March 26, 2021. REUTERS/Edgar Su

Singapore, a low-tax jurisdiction, has a rate of 17% but provides incentives and schemes which reduce the effective rate. "These fundamentals and our reputation for being a trusted and open place to do business are more important than ever in the current environment," Jillian Lim, EDB executive vice president, said in an emailed response to Reuters late on Monday.

 

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