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Global Trading Program(GTP)
The Global Traders Programme (GTP) is an incentive program designed to encourage international trading companies to choose Singapore as a base for their global trading activities. The primary purpose of the programme is to promote Singapore as an international trading hub. It offers a reduced corporate tax.
What is the assistance?
The Global Trader Programme (GTP) provides a reduced corporate tax rate of 5% or 10% on qualifying trading income for three or five years. Qualifying trading income includes income from physical trading, brokering of physical trades, derivative trading income, and income from structured commodity financing activities, treasury activities and advisory services in relation to mergers and acquisitions.
Who can apply?
Singapore welcomes companies which are well-established players engaged in international physical trading on a principal basis to establish their trading base in Singapore. International physical principal trading involves having control over key decisions with regards to entering trades, exercising optionality and flexibility across the value chain to match demand and supply, manage trade flows, bear principle title and commercial risks; and employ sufficient number of employees with the necessary skills. Companies should also carry out risk management activities, have a wide trading and distribution network, and a good track record. The scheme is available to players trading a broad range of products in Singapore, including energy and chemicals, metals and minerals, agricultural commodities, consumer goods, industrial products and electronics.
Minimum Annual Turnover – USD 100 million
Minimum Annual Local Business Spending – SGD 3 million
Minimum Employment of Trading Professionals – 3 (involved in either procurement/sourcing, sales & marketing, risk management). May include senior management and can either be local or expatriates.
Note: The authorities will scrutinize your overall business plan and closely examine whether you are going to make significant contributions to the economy of Singapore before granting you admission to the Programme.
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