Mark Lee on Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
The Government’s continuous refinement of its tax incentive strategies represents and reflects the country’s strong dedication to evolve alongside the global business and taxation landscape, said NMP Mark Lee. Speaking in Parliament on Tuesday (Nov 7), he said it reinforces Singapore's allure as a prime location for multinational companies (MNCs). He pointed out that the reforms not only appeal to MNCs. They also generate a ripple effect that benefits small- and medium-sized enterprises by enhancing their international ties, increasing business opportunities and fostering technological partnerships. Mr Lee added that for a small and open economy like Singapore, these initiatives are critical in preserving its competitive edge and ensuring a favourable climate for sustainable economic development.
The Government’s continuous refinement of its tax incentive strategies represents and reflects the country’s strong dedication to evolve alongside the global business and taxation landscape, said NMP Mark Lee. Speaking in Parliament on Tuesday (Nov 7), he said it reinforces Singapore's allure as a prime location for multinational companies (MNCs). He pointed out that the reforms not only appeal to MNCs. They also generate a ripple effect that benefits small- and medium-sized enterprises by enhancing their international ties, increasing business opportunities and fostering technological partnerships. Mr Lee added that for a small and open economy like Singapore, these initiatives are critical in preserving its competitive edge and ensuring a favourable climate for sustainable economic development.
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