Interesting key features from Singapore Second Finance Minister Tharman Shanmugaratnam when presenting the 2007/2008 budget:

the plans to raise the country’s goods and services tax (GST) to 7% from 5% from July 1 and cut corporate tax by 2 percentage points to 18% next year.
the GST increase will be used to redistribute wealth to address dramatic […]

The State Bank of Vietnam Wednesday has approved Singapore-based OCBC to buy 10 percent stake for around $15.7 million in the Hanoi-based Vietnam Commercial Joint Stock Bank for Private Enterprises, or VPBank, after consideration of the foreign bank’s profile. 
OCBC in future, intends to increase its share in VPBank to 20 percent to become the foreign […]

Singapore–based Asia Pacific Breweries Ltd (APB) started in Vietnam in 1991 by joining forces with Ho Chi Minh City-based Saigon Trading Corp. to set up Vietnam Brewery Limited (VBL). 
 
APB has acquired Foster Group’s breweries in Vietnam for US$105 million under the August deal. The agreement has brought in an exclusive right for APB to manufacture […]

In line with the non-core business strategy, Singapore Airlines, has sold a building which is located at Robinson Road which has an SIA namesake/logo for S$343.9 million ($216 million). SIA redeveloped this building in 1997 and considered it as a non core asset. The new owner is TSO Investment which is a unit of a […]

If you have foreign subsidiaries in Singapore, it’s important to know that there is a drastic amendment of its section 44 ( imputation method of franked dividend) to a complete changeover to a one-tier corporate tax system with effect from 1 st January 2008
Some of the salient points to note are:

· The cut-off date […]