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Maritime Finance Incentive (MFI) scheme

The Maritime Finance Incentive (MFI) scheme encourages companies to use Singapore as their capital and funding base to finance both their maritime vessels and sea containers.

Ship or container leasing companies, funds, business trusts or partnerships all get to enjoy tax concessions for up to 10 years on their qualifying leasing income under the Maritime Finance Incentive (MFI) scheme.

The manager of the asset-owning entity will be awarded a concessionary tax rate of not less than 10% on its qualifying management income.

Operating and qualifying finance leases are both covered under MFI, to allow asset-owning flexibility in leasing and chartering options.

Who is eligible
Companies with a strong track record, demonstrable business plan and a commitment to expanding shipping and container financing operations in Singapore may apply for the MFI status before 28 February 2011.

PRIME would be please to handle MFI related assignment

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