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.
Tags: MNC
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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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NETWORK OF TRADE AGREEMENTS
- Over 20 FTAs with 27 economies
- Avoidance of double taxation agreements (71 DTAs)
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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 pay out each year
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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.