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Friday, February 15, 2008
Singapore Abolishes Estate Duty Part II
The full text of Minister for Finance and Education Tharman Shanmugaratnam's budget speech can be found on www.singaporebudget.gov.sg.We quote from the paragraph announcing the removal of Estate Duty:
4.76 I have therefore decided to remove Estate Duty from our tax regime, with effect from today. It is not just a practical or expedient measure, but one that on balance will be in our collective interest. If we make Singapore an attractive place for wealth to be invested and built up, whether by Singaporeans or foreigners who bring their assets here, it will benefit our whole economy and society, not just the individuals who build up their wealth. It is not a zero sum game.
Read the Estate Duty part of Minister Shanmugaratnam's speech posted by Charles Monat Associates at 5:23 PM
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