South China Morning Post, 23 Jan 2009, Bloomberg
Singapore has cut corporate taxes for the second time since 2007 and said it would tap its reserves to fund record spending as it tries to drag the economy out of its deepest recession since independence.
The government would cut the maximum tax rate payable by companies to 17 per cent from 18 per cent this year, Finance Minister Tharman Shanmugaratnam said in a budget address yesterday.
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