Harvest - Investment Management Industry Updates

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

Issue 3, May 2009

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

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.