There are no taxes on capital gains, turnover, or development. Tariffs exist for only a few products. Excise duties are levied on cigarettes, alcohol, petroleum products and motor vehicles primarily to control social behavior and restrict motor vehicle use. There are no nontariff barriers to foreign goods. Many of Singapore's public policy measures are tailored to attract foreign investments and ensure an environment conducive to their efficient business operations and profitability.
Investment policies are direct and designed to benefit both investors and Singapore.
Although the Government seeks to develop more high-tech industries, it does not impose production standards, require purchases from local sources, or specify a percentage of output for export. Its debt service ratio is less than 0.1 percent. Singapore's budget surpluses and mandatory savings have allowed the government wide latitude in supporting infrastructure, education, and other programs contributing significantly to national development. Barriers to U.S. Exports Singapore has one of the world's most liberal and open trade regimes. Nearly 99 percent of imports enter duty-free.