Budget 2025 debate: Don Wee on Singapore as leader in green finance and sustainability
Singapore must continue to lead in green finance and sustainability, said MP Don Wee. Speaking in parliament on Thursday (Feb 27), he urged the government to liberalise the GST treatment for input tax claims on carbon credit trading-related expenses. Businesses that purchase voluntary carbon credits to manage their emissions targets will benefit from enhanced tax deductions, he said. He also proposed that the gains derived from qualifying green investments made by Singaporean investors overseas be exempted from corporate tax to encourage more businesses to participate in sustainable investments globally.
Singapore must continue to lead in green finance and sustainability, said MP Don Wee. Speaking in parliament on Thursday (Feb 27), he urged the government to liberalise the GST treatment for input tax claims on carbon credit trading-related expenses. Businesses that purchase voluntary carbon credits to manage their emissions targets will benefit from enhanced tax deductions, he said. He also proposed that the gains derived from qualifying green investments made by Singaporean investors overseas be exempted from corporate tax to encourage more businesses to participate in sustainable investments globally.
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