A Singapore Government Agency Website 

avatar5 in

Why dont we tax companies more instead?



Our economy is small and open. Companies can easily move their businesses out of Singapore if we become too expensive - Singaporeans may lose their jobs. Corporate Income Tax (CIT) rates around the world are coming down.   - US, UK, and France have cut or announced plans to cut taxes in recent years.   Closer to home, Malaysia and Vietnam have also cut their CIT rates.  Link to https://www.mof.gov.sg/docs/default-source/default-document-library/ifaq-gst-2020/gst_q6.jpg (Corporate Income Tax's comparison table) . Singapores headline CIT rate at 17% remains competitive internationally. We will continue to monitor other countries closely.

Let other citizens know if this answer was helpful
Did this answer your question?

Can’t find what you’re looking for?