In Part 1 of this series, we highlighted the cross-scheme changes introduced by MAS as well as the key updates relating to the S13O/S13OA schemes. In this article, we focus on the changes affecting the S13U scheme, including updates applicable to both non-Single-Family Office (“non-SFO”) funds and Single-Family Office (“SFO”) funds.
This is the second and final installment of the two-part “MAS Refreshes Singapore Fund Tax Incentive Schemes” series, delving into the changes and finesse the Monetary Authority of Singapore has implemented to the fund tax incentive schemes under Income Tax Act 1947, specifically highlighting the changes for the S13U scheme.
Read more to understand the changes in requirements for Section S13U to be applicable for non-Single Family Office funds, the changes regarding Section S13U for new awards for Single-Family Office funds approved on or after 1 August 2026 and the revisions to the approval process for Existing Single-Family Office Awards the Section.
Contact our team of Private Wealth specialists for a consultation to reduce compliance burdens and prepare your organisation for the refined fund tax incentive schemes of the Income Tax Act 1947.
View the full article in PDF here.
CONTACT US
CLA Global TS Private Wealth Specialists
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Edwin Leow Co- Advisory Leader Director, Head of Tax edwinleow@sg.cla-ts.com |
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Shaun Zheng Director, Tax shaunzheng@sg.cla-ts.com |
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Aaron Zhou Associate Director, Tax aaronzhou@sg.cla-ts.com |
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Tan Xin Yi Manager, Tax tanxinyi@sg.cla-ts.com |
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Else Guo Manager, Tax elseguo@sg.cla-ts.com |
