Page 6 - Building a Treasury Centre for Sustainable Growth
P. 6

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% corporate income tax rate 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
   1   2   3   4   5   6   7   8   9   10   11