Shafaqna English– The central bank of Singapore said on Wednesday that the country will introduce tax exemptions on profits made by fund managers and make visa rules easier for investment professionals. This move is designed to counter increasing competition from other global financial centres that are also trying to attract asset management businesses and talent.
According to the plan, Singapore’s central bank and finance ministry will waive taxes on investment gains generated by fund managers who handle certain categories of funds, including those operated by single family offices. Further information about the exemption scheme is scheduled to be provided in the 2027 budget statement.
Source: Reuters