- Joined
- Apr 27, 2019
- Messages
- 179
- Points
- 28
I hope PM will announce that Singapore will renounce the CECA agreement.
Anyway it is used by Indian-owned Singapore companies to fake country of origin and export Made-In-China goods to India as "MADE IN SINGAPORE" for preferential tax rates. It is outright fraud that ICA and MTI permits. Most honest Singapore companies don't benefit from CECA because they need to have at least 40% local inputs (raw materials or processing) to enjoy preferential tax rates.
In return, we have to accept CECA in our workplace. COVID has proven that Singaporeans can get better jobs, higher pays when foreign PMETs are blocked.
Anyway it is used by Indian-owned Singapore companies to fake country of origin and export Made-In-China goods to India as "MADE IN SINGAPORE" for preferential tax rates. It is outright fraud that ICA and MTI permits. Most honest Singapore companies don't benefit from CECA because they need to have at least 40% local inputs (raw materials or processing) to enjoy preferential tax rates.
In return, we have to accept CECA in our workplace. COVID has proven that Singaporeans can get better jobs, higher pays when foreign PMETs are blocked.