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The Finance and Treasury Centre (FTC) Incentive encourages companies to grow treasury management capabilities and use Singapore as a base for conducting strategic finance and treasury management activities.
- FINANCE AND TREASURY CENTRE INCENTIVE - Singapore EDB
1.1 An approved finance and treasury centre (FTC) company is...
- Finance & Treasury Centre Incentive - Economic Development Board
1. What is FTC? Finance & Treasury Centre Incentive “FTC”...
- FINANCE AND TREASURY CENTRE INCENTIVE - Singapore EDB
Singapore tax residents may claim foreign tax credit (FTC) when filing their Income Tax Returns in Singapore to avoid paying income taxes on the same income which was taxed in the foreign country and in Singapore.
1.1 An approved finance and treasury centre (FTC) company is eligible for a reduced corporate tax rate of 8% on income derived from qualifying FTC services to approved network companies (ANCs) as well as qualifying FTC activities carried out on its account with funds obtained from qualifying sources.
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1. What is FTC? Finance & Treasury Centre Incentive “FTC” encourages companies to use Singapore as a base for conducting treasury management activities. It is subject to the provisions of the Singapore Income Tax Act, Chapter 134, including the Income Tax (Concessionary Rate of Tax for Approved Finance and Treasury
A foreign tax credit will be given when the income is taxed in Singapore. How to Calculate Foreign Tax Credit. Foreign tax credit is the lower of: The actual amount of foreign tax paid; or. The amount of Singapore tax attributable to the foreign income (net of expenses).
The Finance and Treasury Centre Incentive in Singapore serves as a government-led initiative designed to enhance the city-state's appeal for a greater influx of FTCs. This article aims to provide an overview of this incentive, highlight its benefits, outline the eligibility criteria, and explain the application stages.
Finance and treasury centre (FTC) Income derived by an FTC from approved FTC activities is taxed at a reduced rate of 8% or 10%. Approved activities include international treasury and fund management activities, corporate finance and advisory services, economic and investment research and analysis, and credit control and administration.
