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IMF Discusses Pressure On Singapore's Finances, Tax Regime

by Mary Swire, Tax-News.com, Hong Kong

03 August 2017


Singapore could use its significant fiscal reserves to keep its tax rates low while boosting spending, rather than looking to tax hikes, the International Monetary Fund has said.

It warned that "the progress Singapore has made in building a more inclusive society and the competitiveness of its economy could be both adversely affected if the government levied higher taxes to finance higher spending."

It recommended that it instead use income from government investments to boost spending and potentially provide increased tax credits to poorer families.

TAGS: tax | investment | law | Singapore | tax credits | tax rates

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