Singapore to scrap 'not ordinarily resident' tax status next year

Singapore's tax system is being tweaked for this year's Budget to reduce the reliance on foreign workers of all skill levels and incentives for those Not Ordinarily Resident (NOR) in Singapore - introduced in 2002 to attract  senior management of global companies - will end by next year. The NOR scheme was first introduced in 2002 to encourage foreign talent to relocate to Singapore by providing them with tax concessions. The Ministry of Finance (MOF) has said that the last year for the NO...