Securing Investment Competitiveness: Singapore’s Strategic Incentive Enhancements amid Base Erosion and Profit Shifting 2.0

This article provides an update on Singapore’s suite of incentive tools, which includes a new 15% concessionary tax rate tier, expanded eligibility for the Development Expansion Incentive, and the introduction of the Refundable Investment Credit scheme. It emphasizes the significance of these changes in enhancing Singapore’s competitiveness in response to global tax reforms under the Base Erosion and Profit Shifting 2.0 initiative. Additionally, the article examines the impact on companies seeking incentives to strengthen their competitive presence in Singapore amid the implementation of the GloBE Model Rules.