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Global Trader Programme (GTP)

5 years GTP

Singapore Incorporate Company engaged in global trading of approved commodities are entitled to get Income tax benefits under Global Trader Programme. Concessionary rate of Tax would be applicable for the period of 5 years ( with Provision of extension) at 10% as against regular income tax of 17% on income derived from GTP qualifying transaction. Income tax concession under GTP is allowed to existing established company as well as newly incorporated companies upon demonstrating following basic conditions over proposed incentive period

  • Conduct substantial offshore trading Activities
  • Incur significant business spending in Singapore
  • Employ 3 or more experienced trading professionals in Singapore
  • Use Singapore as a centre to conduct & support trading activities as well as make significant use of banking and financial services.

3 years GTP

tax effect for this option and the 5 year incentive is the same. Except that the 3 year incentive has a lower GTP qualifying turnover, employment of trading processionals in Singapore and business spending requirement. The incentive may be renewed for a period of 5years after completion of 3 years subject to incremental commitments in terms of qualifying turnover, local spending and employment trading professionals

5 years GTP at concessionary income tax rate of 5%

A Company can apply for 5% GTP on the basis of established a good track record of its operations in Singapore and can demonstrate significant increase in qualifying turnover, local spending and employment trading professionals

GTP application must be supported by following information:

  • Projected Financials and business plan for proposed incentive period
  • Organisation chart of group to which GTP applicant belongs
  • Organisation chart of GTP operation
  • Resume of Senior employees of the company
  • Annual Report & Audited accounts of applicant company and parent company
  • Related / Associate companies in Singapore have enjoyed, are presently enjoying or presently applying tax incentive from Singapore Government
  • Strategic business functions concluded and planned over GTP period
  • Local Investment and overseas investments planned over GTP period

Above list of not exhaustive and approving authorities can ask for more information as and when required

Promoters of PRIME have in the past successfully handled couple of GTP proposal which incl. 5% Income Tax approved for 5 years and are keen to look at accepting such assignments.

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