Singapore offers tax incentives in wealth play

Singapore will offer tax incentives to wealth managers, hedge funds and private equity firms in a bid to lure them to the country, in a move that comes as a US justice department suit against UBS casts doubt over Switzerland’s position as the primary tax haven for alternative investment houses.

Under the new regulations in Singapore, funds with assets under management of S$50m (€25.8m) or more will benefit from an enhanced tax tier.

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