Lack of `goodies` to attract foreign investors

by Dramelin 9:30 PM 0 comments

The city state`s low tax regime and its current tax incentives to lure multinationals has come under the spotlight in recent years.
"It`s interesting to see there isn`t anything spectacular that would grab the attention of the foreign investors.
Singapore, a Southeast Asian city state whose early economic progress was closely tied to investments from foreign multinationals, presented a budget on Monday that has few incentives to draw more of such investors, one tax expert said.
"Singapore, at this stage of global tax competitiveness, believes that it`s at a good position at the moment.
Last night in the U.
S.
time or European time, if someone was looking to invest in Singapore or was waiting for goodies in the budget, there weren`t really any big goodies for these multinationals outside Singapore to attract them to Singapore," said Woo.