Lowest corporate tax among Asean countries attract foreign investors, not Singapore’s efficiency or ‘corruption free’ status

Many Singaporeans have been fooled into thinking that foreigners invest billions in little red dot because of our efficiency and being the least corrupt Asian country.

While these factors do play a part, a more important consideration is of course our corporate income tax rate.

Among Asian countries, Singapore has the second lowest corporate tax rate.  Among Asean countries, our corporate tax rate is right at the bottom. 😉
1budget17aIf there was a corruption free/efficiency premium for Singapore, investors surely wouldn’t mind paying higher taxes than, say, Indonesia’s 25%.  Or at least on par.

But PAP can’t even raise corporate taxes to match Thailand’s 20%.  In fact, it can’t even increase 1%.

PAP should ensure corporations contribute their fair share to government revenue, similar to our Asean neighbours.

Instead, PAP would rather burden citizens with another GST rate hike post GE2020. 😦1budget18a

 

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2 Responses to Lowest corporate tax among Asean countries attract foreign investors, not Singapore’s efficiency or ‘corruption free’ status

  1. Anonymous incognit4444 says:

    Actually, the other regional countries can do similarly. They could even sweeten the deal by granting a tax amensty and a lower tax rate. Money would fly out at warp speed to the home countries.
    And then what?

  2. Confused says:

    Another reason was because there are thousands of GLC “private companies ” stand to benefit with almost monopoly business.

    The lesser tax they paid, the top get to share more bonus anyhow. With dominance of Temasek controlled GLC, Singaporeans are being fleeced of more tax monies when exorbitant pay and bonus are given out. Worst some even hold multi portfolios……

    In the case of SMRT and SBS, even additional tax monies were pumped to absorbed of the dead assets which should be part of the operating cost. But it’s uniquely Singaporean ways of ……..

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