SINGAPORE – Single family offices (SFOs) that have applied for and received tax incentives under the Section 13O and 13U schemes employ about 1,400 Singaporeans and permanent residents (PRs) as at June 2022. Read more at straitstimes.com.
SINGAPORE – Single family offices that have applied for and received tax incentives under the Section 13O and 13U schemes employ about 1,400 Singaporeans and permanent residents as at June 2022.
Mr Gan Thiam Poh had asked for details on the number of jobs that SFOs have created in the local economy and the salary range of the people employed by them.“These are generally well-paying jobs,” he said, adding that two-thirds of those employed “earned more than $5,000 per month”. Mr Tharman, who is also the outgoing chairman of the Monetary Authority of Singapore , said the data is based only on SFOs that have applied for and received tax incentives under Section 13O and 13U.
Ms Mariam Jaafar asked whether a study has been done to quantify the contributions of family offices set up in the past three years.
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