Singapore is second-easiest place in Asia to do business: Study

Photo by Aditya Chinchure on Unsplash

Singapore is in second place in a league table of ranking Asian economies on how easy it is to conduct business. A study by the TMF Group study 77 jurisdictions across the world looked at indicators such as legislation, accounting procedures, tax regimes and human resources rules.

The study put Singapore at 18th place, behind Hong Kong at 12th place. The top jurisdiction was Curacao, an island state that is part of the Netherlands, followed by the United States.

The index showed that Singapore’s strengths lie in its accounting and tax standards, which are aligned with international measures. It also provides clarity and relative ease in filing requirement. Singapore’s competitive corporate tax rate of 17 per cent and double tax agreements signed with over 80 countries also make it attractive to do business.

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Photo by Aditya Chinchure on Unsplash