BEPS 2.0: Global corporate tax moves a game changer for S'pore?

Singapore needs to respond with a thoughtful, step-by-step approach to tax policy changes

BEPS 2.0 is a two-pillar plan that has an ambitious timeline to implement the new rules in 2023. ST PHOTO: LIM YAOHUI
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Upcoming changes to the way multinational enterprises are taxed globally have deep significance for Singapore's economic and fiscal policies. They will potentially affect the city state's status as a global and regional business and investment hub, and how it raises tax revenues to pay for increasing spending needs.

The short-to-medium term outlook on this front is not very clear, and has many implications for the country's overall fiscal policies, not only for corporate income tax but also other forms of tax such as on individual income, consumption, and wealth.

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