Page 6 - Building a Treasury Centre for Sustainable Growth
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Tax Profile Analysis
TAX PARAMETER SINGAPORE HONG KONG SAR MALAYSIA THAILAND
Tax System Territorial World Scope
Corporate Tax Rate 17% 16.5% 24% 20%
Number of DTA 88 45 73 61
Number of FTA 26 8 14 14
Dividend WHT 0% 0% (IBC)/10%
Interest WHT 0% 15% 0%*
15% for overseas
Capital Gains Tax 0%
recipients
Thin capitalisation No thin
Debt-equity Ratio No thin capitalisation rules
rules capitalisation rules
Finance Corporate Principal International
Incentive Treasury Centre Treasury Centre Hub Business Centre
(FTC) (CTC) (PI) (IBC)
Concessionary Tax 8% 8.25% 0%, 5% or 10% 3%, 5% or 8%
Indefinite period
5 years,
Incentive Period unless conditions 5 + 5 years 15 years
extendable
not met
FX Control Not regulated Regulated
Fund Transfer Not restricted Restricted
*0% withholding tax on qualifying interest paid by the IBC to an overseas loan provider in connection with a loan obtained for re-
lending as a result of its treasury activities.
Preferred location for each category
4 Building a Treasury Centre for Sustainable Growth
