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Article: Singapore keeps corporate tax rate intact in 2006 budget.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- February 17, 2006
CopyrightCOPYRIGHT 2006 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Feb. 17--SINGAPORE -- Singapore Prime Minister Lee Hsien Loong kept the country's corporate tax rates intact as he unveiled his budget proposal for the 2006 financial year on Friday, saying the rates are already competitive enough for now.
Lee, who is also finance minister, said Singapore's corporate tax rate, at 20 percent, is already one of the world's lowest, as he presented the government's budget proposal for the financial year ending March 31, 2007, to parliament.
"We have also reduced our corporate tax rate significantly...Our headline corporate tax rate, at 20 percent, is one of the lowest in the region," Lee said.
"Even more ...