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?
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.
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
NETWORK OF TRADE AGREEMENTS
- Over 20 FTAs with 27 economies
- Avoidance of double taxation agreements (71 DTAs)
GLOBAL TRADER PROGRAMME
- Opportunity for high-growth medium-sized international trading companies
- Five year renewable GTP scheme after the initial three year pear period
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.
MNCs Service Needs
- Employee Care
- Shareholder Support
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