Commentary

New global tax plan adds to list of challenges for Singapore

In future, Republic may see lower corporate tax revenues, fewer multinational businesses

The world's richest countries have proposed laying out new international tax rules that will only add to the challenges that trade-and investment-dependent countries like Singapore face in the coming months and years.

Most economies worldwide are still struggling with an uneven and unequal recovery from the coronavirus-induced economic downturn. This means they will have to lean even more heavily on trade revenues and foreign investment.

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A version of this article appeared in the print edition of The Straits Times on June 10, 2021, with the headline 'New global tax plan adds to list of challenges for Singapore'. Subscribe