Harvest - Investment Management Industry Updates - Archive

A periodic newsletter highlighting key corporate taxation developments affecting the investment management industry in Singapore.

Issue 4, November 2009

Singapore is attracting attention as an alternative fund domicile location.  A question that may come to the minds of fund managers is why they should consider Singapore as a location for setting up a fund, when there are other more commonly used locations such as the Cayman Islands and Mauritius to choose from. Many would have defaulted to the use of jurisdictions that they are familiar with. However, with the increasing concern over the use of jurisdictions which lack substance and are being attacked by tax authorities as being used only to secure tax treaty benefits, many are looking at alternative fund structures that can offer tax efficiency and at the same time withstand the substance test. Singapore has thus emerged as an attractive option.

In this issue, PwC highlights the reasons for choosing Singapore as a fund location and the tax exemption schemes for these funds.

 


Issue 3, May 2009

The 2009 Budget was presented by the government on 22 January 2009. The announcements in relation to the investment management industry generated considerable excitement, despite the current market downturn. There were two reasons for this – firstly, the announcements granted benefits, which were a direct result of feedback from the industry. Secondly, they were symbolic of the government still seeing the investment management industry as one of the pillars of growth for the Singapore economy. It implied that the industry may be down but certainly not out.

In April, the authorities issued circulars providing details of these Budget announcements.

In this issue, PwC highlights the key aspects of the circulars and other corporate tax developments affecting the investment management industry in Singapore over the last few months.

 


Issue 2, September 2007

 

Welcome to the latest issue of PricewaterhouseCoopers’ (PwC) investment management newsletter.

It has been over 6 months since the 2007 Budget was presented by the Government. There was considerable excitement generated in the investment management industry due to the significance of some of the announcements such as the removal of the infamous “80:20 rule” and expansion of the definition of designated investments. The authorities have since issued circulars providing details of these announcements.

In this issue, PwC highlights the key aspects of these circulars and other corporate tax developments affecting the investment management industry in Singapore.

 


Issue 1, July 2006

 

This inaugural issue includes key changes proposed and follow-up circulars issued for the Singapore 2006 Budget, list of designated investments and other updates such as transfer pricing, FRS 39, Foreign-sourced Income Exemption, among others.