Globalisation of the economy has resulted in a shift in the way Singapore corporations operate – from local country-specific business models, to global integrated supply chains which centralise functions at a regional or global level.
The SMU-TA Centre for Excellence in Taxation (SMU-TA CET) was set up by Singapore Management University and the Tax Academy of Singapore, to undertake tax research with a focus on international taxation.
In mid-December 2016, Philippine President Rodrigo Duterte visited Singapore on a state visit, and Singapore President Tony Tan highlighted during a state banquet that an increasing number of Singapore companies is eager to invest in the Philippines.
Following the recommendations by the Committee on the Future Economy (CFE), the Monetary Authority of Singapore recently announced that it will relax some of its rules on finance companies to make it easier for small- and medium-sized enterprises (SMEs) to obtain financing.
As the clock runs down on 2016 and with people in a reflective mood, it is perhaps the perfect time to take stock of how the Singapore Government’s PIC-R&D tax incentive has performed as the PIC scheme itself draws to a close after the end of 2017.
The objective of Singapore's quest to be the world's first smart nation is to make a positive difference to people's lives and reinforce Singapore as a leading city state to attract investment, develop talent and innovation.