Singapore businesses called for the government to provide concessionary tax rates on income generated by newly listed companies in its upcoming budget.
The government should in its Feb. 18 budget also provide tax deductions on notional interest rates on new equity paid in cash, a joint report released Thursday by the Singapore Business Federation and PwC said.
The push aims to revive Singapore’s tepid IPO market and increase financing solutions for companies. Singapore’s Stock Exchange saw just four IPO deals in 2024, a decline from the seven recorded in the previous year, according to the report.
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.