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Singapore Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
5,888,926 (July 2017 est.)GDP (PPP)
$527 billion (2017 est.)Very stable economy with sound fundamentals
GDP growth rate
3.6% (2017 est.)Medium, healthy growth rate
GDP (PPP) per capita
$93,900 (2017 est.)Very high
Local currency
Singaporean dollar (SGD)Stable currency, one of the best in the area
Financial stability (Public debt)
110.9% of GDP (2017 est.)The "debt" is actually Singapore's pension fund, whose issues are not tradable and it is all internally held; the government has not borrowed to finance deficit expenditures since the 1980s, and it has no external public debt.
Inflation
0.6% (2017 est.)Very low
Language
English 36.9%, Chinese (Mandarin, Cantonese) 47.1%, Malay 10.7%, Tamil 3.3%
Corruption perception index (Source: Transparency International)
6/180Very low level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
7% standard goods and services tax rate
Corporate Tax
17% standard rate
Duties
Singapore is essentially a free port with minimal import restrictions Customs and excise duties are imposed on intoxicating liquors, tobacco products, motor vehicles, and petroleum products
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