SINGAPORE — SINGAPORE CONSIDERS HEDGE FUND TAX CUTS TO COUNTER HONG KONG TALENT GRAB

Singapore's financial regulator is discussing potential tax reductions for fund managers in response to aggressive moves by rival hub Hong Kong to attract investment talent. The Monetary Authority of Singapore (MAS) has held talks with industry players amid concerns that Hong Kong's plan for a zero-percent tax on carried interest could lure away high-paid portfolio managers. Measures being considered include lowering the 10% tax rate under a special incentive scheme for investment groups to maintain Singapore's competitive edge.