Harvest - Investment Management Industry Updates
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.
