Marilyn Hawken7 Dec 2015

Global Trader Programme

Singapore

INVITED ONLY Supervised by IE Singapore

Global Trader Programme (GTO) is by Invitation Must have track record Existing Banking lines

XXX COMPANY PTE LTD/ PUBLIC LISTED Singapore as regional base for

• Principal offshore trading & Trans-Shipment Trade

• Business and investment planning and coordination

• General and administrative management controlOVERVIEW

HOW TO BE INVITED? - Estimated Process time 1 Month minimum• Call Customer 1800-437 7673

– Business Structure and Turnover– Receive a GTP Form – Return completed GTP Form to IE Singapore– Assessment by GTP Officer– Look forward to your 1st appointment with GTP Officer

Rohanni – IE Singapore

CASE by CASE Basis

General Examples – DisclaimerThe following slides are collected from Consultancy

sites in the reference links. Every application will have different GTP

requirements. Based on the discretion of IE Singapore GTP

programme.

DISCLAIMER

REVENUE & EXPENDITURE

Requirements

Minimum annual turnover USD 100 million Minimum annual local business spending SGD 3 million Significant usage of Singapore’s banking and financial services

If the company applying to the GTP does not meet these benchmarks, it will be required to show that it can commit to these benchmarks in the projected incentive period. Scheme is supervised by IE Singapore

Lower Taxes

Concessionary Tax 10% or 5% concessionary tax rate on their qualifying trade

– 1st to 3rd Year to build a regional base for trading activities, non-renewable three-year period.

– 4th to 8th Year apply to join for the five-year renewable GTP scheme after the initial three-year period

– A new sunset clause, March 31, 2021

MANAGEMENT

Requirements Minimum employment of 3 Professionals Local, expatriates Senior Management

Procurement/sourcing Sales and marketing Risk management

Must Be Singapore Tax Resident

GTP Qualfying Trade

3 Scenarios

1. GTP to GTP in Singapore

2. GTP Singapore to Offshore Buy and Sell Legs

3. Trade with Non GTP companies is excluded

Examples of GTP Expenditure

GTP classification of expenses

with ….. Matching Concept related to GTP Revenue

Sources:

http://www.iyerpractice.com/uploads/content/Singapore_Global_Trader_Programme.pdf

http://www.paulhypepage.com/guide-faq/singapore-global-trader-scheme/

http://www.iesingapore.gov.sg/Trade-From-Singapore/Global-Trader-Programme

Contact Information