Singapore Variable Capital Companies (S-VACCs)
21 Feb 2018


S-VACC is a new vehicle designed to support collective investment schemes and will offer asset  managers a broader scope of asset classes and investment strategies.

 

 

 

 

 

 

 

Proposal

A specific tax framework for S-VACC will be introduced to complement the S-VACC regulatory framework with the following key features:

  • An S-VACC will be treated as a company and single entity for tax purposes;
  • Tax exemption under Sections 13R and 13X of the ITA will be extended to S-VACCs;
  • 10% concessionary tax rate under the Financial Sector Incentive;
  • Fund Management (FSI-FM) Scheme will be extended to  approved fund managers managing incentivised S-VACC; and
  • GST remission for funds will be extended to incentivised S-VACCs

The conditions under the existing Section 13R, Section 13X and FSI-FM remain unchanged.

MAS will release further details of the tax framework for S-VACCs by October 2018.


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