Generally, a non-resident trust with income arising in Singapore should be liable to tax in Singapore. Accordingly, a wealthy individual may consider setting up a trust with administration carried out in Singapore in order to qualify for exemption from Singapore tax.
Specifically, specified income from designated investments derived by an eligible holding company or a foreign trust which is administered by a trustee company in Singapore is exempted from tax. Any share of exempted income received by a beneficiary of such a trust is also exempted from tax.
In order to enjoy this tax exemption, the beneficiary must belong to one of the following categories:
- Ìý
•ÌýÌýÌýÌý an individual who is neither a citizen of Singapore nor resident in Singapore
- Ìý
•ÌýÌýÌýÌý acompany, which is neither incorporated nor resident
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Web page updated on 28 Aug 2024 11:54