Fund management is an industry that Singapore, Hong Kong, and even China are keen to develop to improve their standing as regional financial centres. Singapore has just scored another point in advancing this cause in the form of a new tax incentive.
The Singapore government, in line with initiatives included in its 2009 budget, has announced a new tax incentive for certain investment funds managed from the city-state that have no restrictions on the residency status of fund vehicles or investors.
"What the Singapore government has done is simplify the tax rules for funds ...