Why Singapore is a Good Base for Establishing Financial Treasury Centers

ASEAN Briefing listed a few reasons why Singapore is a good base for setting up the financial treasury centers.  Those reasons include as follows:

• Singapore’s investor-friendly tax and legal regimes as well as its integrated financial system make the country an ideal destination to establish a financial treasury center (FTC).

• The country also has one of the most extensive double taxation networks and free trade agreements in the region that can benefit investors.

• Singapore is also a hub for multinationals incorporating their headquarters in the region, with over 4,000 HQs registered in the country.

 Singapore Provides Favorable Tax Environment

• The tax incentives include:

• Corporate income tax rates of eight percent for approved FTC companies on income derived from qualifying activities and services;

• Approved companies will be eligible for withholding tax exemptions on interest payments, which include interest on loans from overseas banks and non-financial institutions; and

• The incentive period for five years can be extended depending on the FTC company’s commitment to further expand its FTC activities and services.

 In full: https://www.aseanbriefing.com/news/why-singapore-is-a-good-base-for-establishing-financial-treasury-centers/