Singapore does not levy wealth or inheritance tax, capital gains are tax-exempt and, most importantly, it implemented a single-tier corporate income tax. Singapore has a large pool of motivated English-speaking workers. This workforce is considered the best workforce in the world. Singapore ranks first in the ease of doing business indicator, for the best investment environment, the most open to international trade and for investment potential. Among the largest economies, Singapore is the third most globalized economy and the third among the richest nations. Since July 1, 2015, Singapore's private companies filling certain criteria are exempt from audit filing. Such a qualified business is labeled as a small business. These companies must meet at least 2 of the following conditions: a) Their total annual turnover must not exceed S$10