Car buyers want COE system reviewed

[CityFarmer]

On tax-avoidance perspective, staying elsewhere does not help?

Corporate tax remains as long as the company registered and doing business in Singapore

Personal income tax will increase as non-resident tax payer.

Allow me to explain my perspective.

Every year, businesses and people exit Singapore. It is not a figment of my imagination as I personally know several such cases. However, our economy is still growing in spite of that because on balance, more businesses are created and more people want to come to Singapore.

But this is not a given. The current judicious balance of policies have created a net positive environment for businesses to thrive. There will be external shocks and internal policy adjustments that will discourage businesses to grow. E.g. current manpower policies of restricting or reducing foreign labour will discourage some businesses to grow. Punitive taxes on the rich (and businesses) could be another possibility. And some policies have a lagged effect, i.e. you won't know the actual effect(s) until some time later, not unlike piloting a big ship.

Many companies are international in nature. Transfer pricing occurs all the time. If they are not treated well, why would they want to retain their core activities and profits in Singapore?

I agree with your view. Just to add-on my opinion, incentive for international companies should be viewed as a complete package, rather on individual issues. There are other good incentive to stay e.g. lower corporate tax etc.