Henry GoodwinPartner, Taylor Vinters

International Festival of Business Liverpool, 15 July 2014

Singapore: The ‘Little Red Dot’

Why Singapore?• A well trodden path for UK companies

• Ease of business set-up, English language

• A low tax environment, Asia’s only AAA credit rating

• Financial, transport and trading hub

• Stable politically, backed up by strong rule of law: o low levels of corruptionoextensive legislative frameworko reliable courts and dispute resolutiono intellectual property protection

Corruption Perceptions Index 2013

Singapore: 5Hong Kong 15UK: 17

USA: 19Malaysia: 53China: 80

India: 94Indonesia: 114Myanmar: 172

A Low Tax Environment Country

CorporateTax Rate

Hong Kong 16.5%

Singapore 17%

Taiwan 17%

South Korea 22%

Malaysia 25%

Vietnam 25%

China 25%

Indonesia 25%

Australia 30%

Philippines 30%

Thailand 23%

India 30%

Tax for New Start-up Companies• Newly incorporated company that meets the qualifying conditions can claim for full tax

exemption on the first $100,000 of normal chargeable income for each of its first 3 years of assessment.

• A further 50% exemption is given on the next $200,000 of the normal chargeable income for each of the first three consecutive YAs.

• First $100,000 @ 100% = $100,000Next $200,000 @ 50% = $100,000Total $300,000 $200,000

• Years of Assessment (YA) 2013, 2014 and 2015, companies will also receive a 30% Corporate Income Tax (CIT) Rebate that is subject to a cap of $30,000 per YA.

• Productivity and Innovation Credit (PIC) Scheme gives 400% tax deductions/ allowances and/or 60% cash pay outs for investment in innovation and productivity improvements

Intellectual Property Rights

• Singapore consistently rated the best place in Asia for IP rights protection, and top 3 in the world

• World Intellectual Property Office (WIPO) recently set up its first Asian regional office here

RegulatoryAnalysing the legal landscape relevant to your particular sector

IncentivesIdentifying which government grants and tax incentives may be suitable for your company

Business StructurePresenting your options on set-up from a corporate tax and trading perspective

TalentBriefing on employment market trends, availability of talent, benchmarking remuneration and help with immigration processes

LocationMapping the local real estate market and possible office locations

TimetableProviding a detailed timeline to help you monitor progress of the market entry project

Setting Up in Singapore

Technology Connection

November 2014

Any questions?