Shawn Loh on Finance (Income Taxes) Bill
The global minimum tax rules will very likely leave Singapore worse off, rendering its tax incentives - a major way of attracting multinational enterprises - almost useless, said MP Shawn Loh. He urged the government to be relentless in developing new value propositions to ensure that if the most sophisticated products are invented and made in only a few places in the world, Singapore will be one of them. In parliament on Thursday (Nov 6), he also called on the government to think harder about the uncertain impact on revenues and adopt a fiscal strategy that provides for different fiscal futures.
The global minimum tax rules will very likely leave Singapore worse off, rendering its tax incentives - a major way of attracting multinational enterprises - almost useless, said MP Shawn Loh. He urged the government to be relentless in developing new value propositions to ensure that if the most sophisticated products are invented and made in only a few places in the world, Singapore will be one of them. In parliament on Thursday (Nov 6), he also called on the government to think harder about the uncertain impact on revenues and adopt a fiscal strategy that provides for different fiscal futures.
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