GST and the Fund Management Industry


GST Fund Management

The GST remission for prescribed expenses incurred by qualifying funds was introduced earlier this year to enhance Singapore’s competitiveness and position as a key centre for fund management and administration in the region.

However, the GST remains a challenge in terms of its application to special transactions in the fund management industry as the treatment is dependent on contractual relationships, the manner in which the transaction is carried out and the fund manager’s role in the transaction. There are also issues with regard to the GST treatment of front end loads and soft dollar commissions.

The Inland Revenue Authority of Singapore (IRAS) recently issued its first public guidelines on GST for the fund management industry which seeks to explain their views on how GST applies to transactions in the industry. It is therefore critical that the industry understands the GST rules and to see how GST can be managed in a highly competitive market. This is also to mitigate the exposure to penalties should errors be found by the IRAS in the fund management company’s application of the GST rules.

PricewaterhouseCoopers Services LLP is pleased to hold a seminar to guide you through the GST rules applicable to the fund management industry. The topics to be covered include the following:

  • Fund management services;
  • Front end loads;
  • Distribution services;
  • Brokerage services;
  • Soft dollar commissions;
  • Input tax recovery;
  • GST remission for qualifying funds;
  • Correcting past errors and the IRAS Voluntary Disclosure Programme.


Date

7 Oct 2009


Fee*

S$95 - Clients/alumni of PricewaterhouseCoopers

S$120 - Public


* Fee includes notes, refreshments & 7% GST



More information about the seminar, including registration details, is available in the flyer > Download