Tax Newsflash: Clarification on the Definition of “Issued Securities” Under the Offshore Fund Regime

May 2018

Start adding items to your reading lists:
or
Save this item to:
This item has been saved to your reading list.

The Offshore Fund Scheme (the “Scheme”) provided under section 13CA of the Income Tax Act is one of the commonly used safe harbour provisions by offshore funds managed by a fund management company in Singapore. The Scheme provides Singapore tax exemption on “specified income” derived by a “prescribed person” from “designated investments. It is a self-assessment scheme that does not require an application to the authorities provided the requisite conditions to be a “prescribed person” are met. The Scheme also imposes qualifying investors test where non-qualifying investors are subject to financial penalty.

Contact us

Chris Woo
Tax Leader, PwC Singapore
Tel: +65 9118 0811
Email

Abhijit Ghosh
Partner, Tax, PwC Singapore
Tel: +65 8223 0698
Email

Paul Lau
Partner, Tax, PwC Singapore
Tel: +65 6236 3733
Email

Tan Tay Lek
Partner, Tax, PwC Singapore
Tel: +65 9179 2725
Email

Follow us