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Global Tax Deal May Challenge Singapore’s Investment Lure: Wong

July 5, 2021, 8:37 AM

A potential global agreement on taxes may make it harder for Singapore to attract investment, meaning the city-state will need to work “even harder” to attract and retain investments via non-tax factors, Minister of Finance Lawrence Wong said in Parliament Monday.

  • NOTE: Wong was referring to an OECD-sponsored agreement in the works to set a global minimum corporate tax rate and a new regime for sharing the taxes on the profits of multinational firms
  • Related story: July 2, Global Taxation Nears Historic Deal Amid Last-Minute Hurdles
  • “Going forward as a small city state with no natural resources, with limited land, ...

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