Singapore Beats Hong Kong as Top Asian Location for MNC Headquarters

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While Singapore holds a percentage of 46% multinational corporations (MNC), set up at its regional headquarters, Hong Kong has only 37%, as per KPMG’s statement within its Budget 2018/19 report and the global trend of tax loss relief should be considered by HK in attracting MNCs.

Specifically, the disparity is more evident in their report, in which Singapore holds the lead with accounting for more than half (59%) of tech MNCs and Hong Kong follows with accounts for 18%, Philippines and China for 4% and finally Malaysia with 2%.

KPMG cited the country’s tax loss relief – which is an emerging global trend – which helps attract MNCs, and said if Hong Kong wants to catch up, it should follow along.