China

China: The country will cut taxes on profits that foreign companies take out of the country by up to 50%, relaxing rules on withholding taxes to encourage overseas investments. However this will only apply to companies and sh/h which have double taxation agr with China, of which Singapore is one of them. This will allow companies to expatriate profits with less tax and ultimately encourage investments. This move will also apply to dividends paid by China-listed companies to foreign sh/h under the QFII scheme. The effect will be to make it much simpler and quicker to cut withholding taxes paid on dividends from 10 per cent to as little as 5 per cent, depending on the owner’s country of residence. Notably, Capitaland, GLP, Capitamalls Asia, Keppel Land are some of the names which might benefit.