I had spent some doing research in the Inland Revenue Authority of
Singapore.  My experience is that removing corporate taxes would not be
helpful.  The divergence between coporate income taxes and individual
income taxes leads to too much tax planning.  Of course, this results in
more resources spent on chasing a smaller amount of taxes.  Therefore, the
strategy is to keep top individual marginal rates closely aligned to the
corporate rate on the assumption that most shareholders belong to top
brackets.  Singapore originally has the imputation system (dividend taxed
at the hands of individual but taxes are reduced by the notional amount
paid at the company level).  But we are also moving away from taxing
dividends altogether.


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