IRAS Gallery

The Singapore Tax Story

Audio Guide
TAX AND THE NEW NATION
1970
Tax incentives were introduced to encourage automation and mechanisation.

Growing Businesses, Building a Nation
In the 1970s, the focus was on international trade and investment, and capital-intensive industries. In the 1980s, Singapore was remodelled to become a total business centre where products were financed, designed, produced and marketed.

From 1980, tax incentives were introduced to assist businesses to upgrade through automation and mechanisation. The financial sector was boosted by incentives that boosted offshore activities like syndicated loans, fund management promotion and financial futures activities.
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Learn more about the
heady decades of growth
in the 1970s, 1980s