If you are thinking of expanding your business, you can consider setting up HQ in Singapore. Holding your company in Singapore is beneficial for a tax planning, you will receive royalty, dividends, interest or other income from your subsidiaries at lower withholding tax.
You could also apply for the Productivity and Innovation Credit Scheme (PIC) scheme, that would allow you to claim back 60% of their IT spending , capped at $100,000 per year. With Singapore’s vast network of double tax treaty with numerous countries, you will have no problem repatriating profits back to your overseas company when setting up HQ in Singapore.
In 2010 budget, Singapore government introduced PIC scheme that allows enterprises to enjoy up to 400% tax deduction or allowances or get a 60% cash payouts when they invest in innovation, research and development, automation, and training.
As an overseas company setting up in Singapore, you will be able to claim back 60% of your Internet Technology (IT) spending from up to $100,000 annually. IT spending cost includes to lease or acquire PIC IT and automation equipment like fax machine, computer, lap-top, laser printer, and software. If you have additional items that are packed with the purchase or lease of PIC IT and automation equipment, then you might visit the official site of IRAS to see how you should claim for PIC and receive discount in cash.