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Singapore Seeking New Ways to Lure Investment Under OECD Deal

June 23, 2022, 5:57 PM

Singapore will have to look beyond tax incentives to lure investment, owing to the impact of the global tax deal on corporate taxes, an official said Thursday.

The city-state’s approach to global tax competition will have to evolve in light of Pillar Two of the Organization for Economic Development and Cooperation’s Inclusive Framework coming into effect, Sing Yuan Yong, tax director at the Inland Revenue Authority of Singapore, told the Bloomberg Tax Leadership Forum.

“We need to look for other tools, because the competition for investments is always there,” Yong said in response to a question about budgetary ...