SINGAPORE PROVIDES NEW TAX INCENTIVES FOR THE FUNDS INDUSTRY

The 2009 Singapore Budget statement introduced an enhanced-tier incentive to the existing tax incentives available to the funds industry. The New Incentive also facilitates the use of limited partnerships (LP) as fund vehicles. The New Incentive dispenses with the 30/50 rule, removing the investment...

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Bibliographic Details
Published in:Journal of International Taxation 2009-08, Vol.20 (8), p.13
Main Authors: Tea, Desmond, Siang, Chong Lee, Ang, Amy
Format: Article
Language:English
Subjects:
Budgets
Funds
International taxation
Investment advisors
Limited partnerships
Tax incentives
Tax rates
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Summary:The 2009 Singapore Budget statement introduced an enhanced-tier incentive to the existing tax incentives available to the funds industry. The New Incentive also facilitates the use of limited partnerships (LP) as fund vehicles. The New Incentive dispenses with the 30/50 rule, removing the investment limits for Singapore-based, non-individual investors. The Ministry of Finance clarified that the list of designated investments will exclude shares of private companies that are mainly in the business of trading or holding Singapore immovable properties.
ISSN:1049-6378