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  1. Wealth
February 11, 2009

Straits Times: Singapore denies it is a tax haven

By Spear's

Singapore is not a tax haven even as the Government cuts the corporate tax rate to 17 per cent this year.

From the Straits Times:

Singapore is not a tax haven even as the Government cuts the corporate tax rate to 17 per cent this year.

The Republic has low but not no tax; strong rule of law; companies with substantive business activities, and it is now considering adopting an internationally-recognised standard for the exchange of tax information, said Senior Minister of State for Finance and Transport Lim Hwee Hua in Parliament on Tuesday.

She was responding to a question from MP Inderjit Singh (Ang Mo Kio GRC) that lowering the corporate tax rate would increase the perception of Singapore as a tax haven.

To read the full article, visit the Straits Times

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