Elaborating on his priorities for 2021, Dirga explains that his first mission is to protect market share in key product areas such as fixed-income funds and CPF, or capital protected funds.
“The government offers us a tax break whereby the tax for bonds for regular investors is 15% but for mutual funds it has been 5%, and starting in 2021, it is going to be 10%. So the tax break is less compelling from January 2021, and that means we need to defend our market share here rather more vigorously.”
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