Singapore Keeps Tax Incentives Open as Global Minimum Tax Looms

The Singapore Parliament passed a bill aimed at allowing companies to continue to qualify for investment tax incentives as the country prepares to implement a new global minimum tax.

The bill, which was approved Monday, would create a 15% tax rate tier for large multinational companies that they can qualify for under Singapore’s development and expansion incentive.

The incentive program encourages companies to invest in new or expanded high-value added activities in Singapore, like investment in fixed assets and creation of skilled jobs.

• The program already has tax-rate tiers of 5% and 10%; the new 15% tier ...