Wealth-bulletin.com, 11 Feb 2009
Singapore is not a tax haven despite the government’s decision to slash the corporate tax rate to 17% this year, Lim Hwee Hua, the city state’s Senior Minister of State for Finance and Transport, told the Parliament on Tuesday, according to report in The Straits Times.
Responding to a question from MP Inderjit Singh that the move would increase the perception of the republic as a tax haven, Lim said that Singapore was considering embracing the Organisation of Economic Cooperation and Development standard for transparency and effective exhcange of tax information.
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