Singapore considers reducing hedge fund rates to improve competitiveness

On 19 July, according to the British Financial Times, the Singapore Financial Authority had initiated consultations with investment agencies on reducing the tax burden on fund managers to maintain competitiveness and retain talent. The Singapore Monetary Authority indicated that it was reviewing measures to enhance Singapore ' s competitiveness as a financial institution and centre of excellence. One of the measures discussed by the Singapore Monetary Authority was a reduction in the tax rate of a special incentive scheme, i.e., only 10 per cent for the group of investors participating in the scheme, compared with 17 per cent for the Singapore standard enterprise. It was reported that this would enable these enterprises to transfer the saved taxes to portfolio managers。