Enhancement to the Enhanced-Tier Fund Tax Incentive Scheme
On 23 February 2015, the 2015 Budget Statement was delivered. It was then announced that with effect from 1 April 2015, the existing concession for master-feeder fund structures under the Enhanced-Tier Fund Tax Incentive Scheme will be enhanced to apply to special purpose vehicles held by the master fund, subject to conditions. The recent Monetary Authority of Singapore (MAS) FDD Cir 05/2015 dated 29 May 2015 provides details and clarifications with regard to the enhancement. We discuss the salient points of the MAS circular in our bulletin.