Committee of Supply 2024 debate, Day 3: Mariam Jaafar on staying competitive in a BEPS 2.0 world
Many jurisdictions around the world are grappling with the need to strike a balance between attracting investments and ensuring fair taxation, said MP Mariam Jaafar in Parliament on Friday (Mar 1). Singapore, with no domestic market and higher wages and living costs than many other places, cannot be complacent, she said. Ms Mariam welcomed the Refundable Investment Credit which was introduced in Budget 2024. She had several questions, including how this tax credit stacks up against measures taken elsewhere, specifics on economic activities and qualifying expenditures, and how to ensure that it will incentivise capital investment and drive desired outcomes.
*Audio issues inherent from source
Many jurisdictions around the world are grappling with the need to strike a balance between attracting investments and ensuring fair taxation, said MP Mariam Jaafar in Parliament on Friday (Mar 1). Singapore, with no domestic market and higher wages and living costs than many other places, cannot be complacent, she said. Ms Mariam welcomed the Refundable Investment Credit which was introduced in Budget 2024. She had several questions, including how this tax credit stacks up against measures taken elsewhere, specifics on economic activities and qualifying expenditures, and how to ensure that it will incentivise capital investment and drive desired outcomes.
*Audio issues inherent from source
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