What Is The Weaknesses Of Doing Business In Singapore

When looking at an infrastructure like Singapore’s, and comparing it to America’s open market there are many strengths and weaknesses that can be said about two different infrastructures. For large corporations doing business in Singapore has many advantages, such as lower taxes. Compared to Singapore, America has the highest tax rates for businesses and corporations. Corporations in America can be taxed up to 35% while in Singapore it’s reasonably less at 17%. (Singapore Corporate Tax Rate) Another benefit of doing business in Singapore is that if your business doesn’t generate more than $30,000 yearly, then you are not required to pay taxes. In 2010, The World Economic Forum’s published their 2010 Global Competitiveness Report where Singapore was ranked #24 for total tax rate while America was ranked #89. (Klaus Schwab, 2010)

For any business protecting their intellectual property is their number one priority. According to the Global Competitiveness Report (GCR) of IP protection, Singapore is ranked 2nd worldwide while America is ranked 25th. (Competitiveness Rankings 2015) This is another huge advantage for any corporation doing business in Singapore. Having a protection of IP creates and increases investor interest and eliminates product replicas. In Singapore, the expenses of obtaining and in permitting IP rights can be dispensed through money payouts or corporate duty discounts. This is conceivable under the PIC (Productivity and Innovation Credit) plan, which tries