The IMF’s World Economic Outlook (October 22, 2024 ) reported stable still, underwhelming global growth, with the balance of risks on downside due to geopolitics, potential for disruptive policies, financial market vulnerabilities, and widening chasm between economies.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would