Eric Ng asked: Is Singapore a Tax havens? Are we trying to be the - TopicsExpress

Eric Ng asked: Is Singapore a Tax havens? Are we trying to be the next Monaco? REPLY Definition from Wikipedia A tax haven is a state, country or territory where certain taxes are levied at a low rate or not at all. Individuals and/or corporate entities can find it attractive to establish shell subsidiaries or move themselves to areas with reduced or nil taxation levels relative to typical international taxation. This creates a situation of tax competition among governments. States that are sovereign or self-governing under international law have theoretically unlimited powers to enact tax laws affecting their territories, unless limited by previous international treaties. Singapore appears to be on the borderline of being classified as a tax haven.

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