Singapore drops RTC tax rate to 8%
In what could be seen as a move against Hong Kong’s recent push to attract Chinese and MNCs to its shore, Singapore delivered a surprise cut to its concessionary tax rate for treasury centres located in the Lion City.
Singapore’s Minister for Finance Heng Swee Keat delivered the country’s 2016 budget last week (March 24) and offered quite the sweetener for companies looking to set up their regional treasury centres (RTCs) within Asia.
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