Lowest corporate tax among Asean countries attract foreign investors, not Singapore’s efficiency or ‘corruption free’ status
Many Singaporeans have been fooled into thinking that foreigners invest billions in little red dot because of our efficiency and being the least corrupt Asian country. While these factors do play a part, a more important consideration is of course our corporate income tax rate. Among Asian countries, Singapore has the second...
Investment returns to supplement revenue: A PAP left to right pocket transaction?
Since 2000, about $108 billion in returns on our reserves (NIRC) have been used to supplement government revenue (image below). Although NIRC is supposed to benefit citizens, the reality is a high percentage of this ultimately find its way back to GIC via CPF contributions or funds set up by PAP under many different names. Excluding...
Retired banker Chris Kuan put PAP MPs to shame in budget debates
Retired banker Chris Kuan, who spoke at forums organized by oppositions on Singapore's reserves as well as the estimated long-term return of our reserves, made several postings on his Facebook page recently to rebut some of the budget speeches made by PAP MPs. Not surprisingly, many MPs from the People's Action Party spoke on...
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