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Tax Incentives
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  • Global Trader Programme
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Global Trader Programme

With a value add of S$73.7 billion in 2018 and a growth rate of 3.5% per annum between 2013 and 2018, Singapore’s wholesale trade sector contributes 17% of Singapore’s GDP and is the largest contributor among our services sector. 

The wholesale trade sector not only creates a large number of jobs, but more importantly, a spectrum of quality jobs. In fact, the wholesale trade sector provides the second most number of jobs at more than 320,000 in the services sectors in 2018. Out of these jobs, 64% are professionals, managerial or executive positions. 

This sector is also a good contributor to the finance, logistics and insurance sectors. In 2018, the international trading sector incurred local business spending of S$31 billion.
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.

To qualify for the GTP, companies must have substantial operations in Singapore and meet stringent quantitative criteria (including employment and local expenditure). Larger players with more established operations in Singapore should also perform strategic functions, such as compliance and risk management , financial, derivatives and logistics management. Companies must also be committed to make significant use of the banking, financial infrastructure, logistics, arbitration and other supporting services in Singapore as well as contribute to manpower development in Singapore.

To find out more
 

Reach out to us at go.gov.sg/askenterprisesg.

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(Last updated on 11 August 2022 08:37:18)