Singapore deserves premium pricing: as a place to live, do business, visit and so on. So, please check if we have priced ourselves well enough instead of being over concerned with perceived competition and so on.
The major concern of MNC is their asset protection vis-a-vis the standard elements of investment like political risk, terroists and so on. To me, tax item is of secondary importance: most times it is a healthy problem. For to be able to pay tax the biz must have made profit. In addition, businesses can be adopting price transfering strategies without our knowing.
If there is room to move (i.e. by holding back or reducing corporate tax cuts) on the above we have more receipts from the 80:20 rule. Obviously Singaporeans and PRs will benefit.
As a country, we have done well and we have an excellent leader. However, our country's experience is a short history and we have less as references or benchmarks. Therefore, I am saying that this topic is meant to call a self-audit- not a complain.
As I have seen over four decades (now 66), transparent processes before the decision making stage are able to pick up problems in good time. Granted not allissues can be put under transparent processes.
This feedback is not about a no-man; neither, a yes-man. It is about getting the actual information, data, knowledge, competence and so on to make good decisions.
Dr Quek Teo Hoe www.rkm929.com
DBA (Brunel 2001) MBA (NYU 1984) FCIS (1964)
Wednesday, February 28, 2007
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