MNC

MNCs In Sinagpore

Singapore is strategically located with a thriving economy fuelled by a stable political environment, skilled workforce and world-class infrastructure. The sunny island nation with its exceeding qualities continues to establish itself as one of the best places to establish a base within the Asia-pacific region. For multinational corporations (MNCs) looking to establish a base within the Asia-Pacific region, Singapore offers a multitude of salient reasons that are designed to help your corporation achieve success.

Why Should MNCs set up in Singapore?

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INCENTIVES FOR HEADQUARTERS

Singapore Economic Development Board offers Regional Headquarters and International Headquarters incentives.

  • RHQ Incentives
    • Concessionary Singapore tax rate of 15% for up to five years for qualifying income arising from activities and operations carried out within the country
    • RHQ using Singapore as an international intellectual property holding location may claim writing-down allowance (WDA) for the cost of acquisition of IP.
  • IHQ Incentives
    • Concessionary Singapore tax rate of 0% to 10% for up to five years for qualifying income arising from activities and operations carried out within the country.
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ATTRACTIVE TAX SYSTEM

  • Progressive tax system
  • Corporate and personal tax rates start at 0% and do not exceed 20%
  • Businesses that opt for Singapore company formation are entitled to a 400% tax deduction or option for a 60% cash payout each year
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NETWORK OF TRADE AGREEMENTS

  • Over 20 FTAs with 27 economies
  • Avoidance of double taxation agreements (71 DTAs)
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GLOBAL TRADER PROGRAMME

  • Opportunity for high-growth medium-sized international trading companies
  • Five year renewable GTP scheme after the initial three year pear period
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FOREIGN TAX CREDIT POOLING

  • Pooling of FTC on foreign income received
  • Flexibility for resident taxpayers in FTC claims, thereby reducing their Singapore tax payable on the remitted foreign income.
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Victor Lai

Regional Managing Director, Boardroom Corporate & Advisory Services