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SINGAPORE TRANSFER PRICING REGULATIONS

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SINGAPORE TRANSFER PRICING REGULATIONS

The Singapore Transfer Pricing (TP) system has its roots in the year 2006, with the introduction of the first set of TP guidelines. An evolutionary process has followed since then, and one could say that the system has come a long way in aligning itself with the Organization of Economic Co-operation and Development’s (OECD) Base Erosion and Profit-Shifting (BEPS) recommendations, especially in relation to the application of the arm’s length principle (as covered in Actions 8-10) and the maintenance of TP Documentation (as covered in Action 13).

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Singapore VCC Fund Regime – Fund Raising from US-based Investors

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Singapore VCC Fund Regime – Fund Raising from US-based Investors

Singapore has distinguished itself as a prominent global financial services centre through its reputation, strategic location, stable government, robust tax and regulatory environment, and exceptionally efficient yet cost-effective legal and financial ecosystem.

As per the Monetary Authority of Singapore (MAS), Singapore has more than SGD 3.4 trillion assets under management and more than 890 registered and licensed fund managers. In addition, to position Singapore as a leading fund domiciliation hub, MAS and Accounting and Corporate Regulatory Authority (ACRA) launched the new Variable Capital Companies (VCC) framework in January 2020 to provide a new corporate structure for investment funds, which emulates the best features of similar corporate fund vehicles prevalent globally.

The Singapore Variable Capital Company (VCC) – Practical consideration for India-focussed funds and fund managers

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The Singapore Variable Capital Company (VCC) – Practical consideration for India-focussed funds and fund managers

The Singapore VCC framework was launched on 15 January 2020 and has since been adopted enthusiastically by the funds industry. Nearly 200 VCCs have
been launched so far. Rajah & Tann Asia along with Dhruva Advisors Singapore, organised a webinar comprising of an expert panel of speakers who shared their
experience on the use of the VCC for India-focussed funds and the practical considerations that fund managers need to consider in structuring such funds.
The speaker panel comprised of:

  • Arnold Tan Co-head, Funds and Investment Management, Rajah & Tann Singapore LLP.
  • Mahip Gupta, Partner, Tax Advisory, Dhruva Advisors (Singapore) Pte. Ltd.
  • Bhuta Devang Arun, Managing Director and Chief Executive, JM Financial Singapore Pte. Ltd.
  • Nilesh Choudhary, Director & Co Founder, Wilson Ventures Pte. Ltd.

Dhruva Advisors Singapore, Enterprise Singapore, High Commission of India in Singapore, Singapore Indian Chamber of Commerce and Industry (SICCI) and Federation of Indian Chambers of Commerce & Industry (FICCI) on Indian Budget 2021

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Dhruva Advisors Singapore, Enterprise Singapore, High Commission of India in Singapore, Singapore Indian Chamber of Commerce and Industry (SICCI) and Federation of Indian Chambers of Commerce & Industry (FICCI) on Indian Budget 2021

Dhruva Advisors Singapore, Enterprise Singapore, High Commission of India in Singapore, SICCI and FICCI jointly hosted a webinar session on Feb 9th, 2021 to deliberate on the impact of the Indian Budget 2021 tax proposals on the foreign investors and the Indian economy.

Dhruva Partners – Dinesh Kanabar, Mahip Gupta and Niraj Bagri led the session and industry experts provided their in-depth insights on key policy and tax announcements.

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Doing Business in India

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Doing Business in India

The manufacturing sector has emerged as one of the sectors in India with high growth. The ambitious “Make in India” program launched by the Hon’ble Prime Minister, Shri Narendra Modi, has played a pivotal role in this regard and has significantly helped not only in placing India on the world map as a manufacturing hub but also in providing global recognition to India’s growth story.

According to the United Nations Conference on Trade and Development (“UNCTAD”), India ranked among the top 10 recipients of Foreign Direct Investment (“FDI”) in South Asia in 2019, attracting US$ 49 billion – a 16% increase from the previous year.

Cumulative FDI in India’s manufacturing sector reaching US$ 88.45 billion during April 2000 to March 2020 is a manifestation of the increasing attractiveness of India as destination for foreign investments. Furthermore, with its increasing liberalisation and business friendly environment, India has jumped 79 positions to rank 63rd in the ‘Ease of Doing Business index’ as per the World Bank’s Ease of Doing Business Ranking, 2020. In accordance with the latest data released by the Government, the FDI inflows have gone up by almost 15% during the first half of the current year with Singapore topping the list. In terms of numbers, the data shows that despite the pandemic, FDI inflows in India have topped US$ 30 billion during April-September compared to US$ 26 billion in the corresponding period of the last year.

Download the entire report below.

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Doing Business In Singapore

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Doing Business In Singapore

The gradual shift in the world’s economic gravity to the eastern hemisphere has been well leveraged by Singapore, with its strategic location and growing appeal as an international hub for wealth management and financial services. Singapore has topped the world ranking in terms of ease of doing business for close to a decade. Many global businesses benefit from locating their head quarter operations in Singapore.

Dhruva’s ‘Doing Business in Singapore’ publication provides a concise synopsis on the critical aspects of doing business in Singapore with highlights on taxation, audit & accountancy as well as other related business matters.

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