Singapore's Rajah on Legitimate Business Activity

The video discusses Singapore's focus on improving corporate transparency and attracting legitimate business activities. It highlights the importance of clean investments and adherence to governance regimes. The impact of new regulations on various sectors, including financial and non-financial companies, is explored. The video also emphasizes the need for robust data protection measures and proper processes in data sharing with tax authorities.

What is the primary reason companies choose to invest in Singapore according to the video?

• To avoid taxes

• To access natural resources

• To ensure the best returns on their money

• To exploit cheap labor

Which types of companies are affected by the new regulations discussed in the video?

• All companies, including non-financial ones

• Only financial services

• Only multinational corporations

• Only banks

What must companies consider when deciding where to base their activities under the new regulations?

• The weather conditions

• The availability of skilled labor

• The strength of local currency

• The presence of substantive activities

What is essential for organizations to protect data when sharing it with tax authorities?

• Hiring more employees

• Strong IT systems and protection against hacking

• Increasing marketing efforts

• Reducing data sharing

What approach is recommended for data protection in the video?

• A complete wrap-around approach

• A minimalistic approach

• A partial approach

• An ad-hoc approach