Singapore Tax Agency Updates E-Tax Guide on Taxation of REIT Exchange-Traded Funds

The Singaporean Inland Revenue Authority June 30 updated an e-Tax guide on the income tax treatment of tax transparent real estate investment trust exchange-traded funds (REIT ETFs) receiving distributions from REITs listed on the Singapore Exchange (S-REITs), or from specified REIT ETFs. The updates clarify that: 1) co-location and co-working space income is derived from undertaking specified activities involving providing space or certain services within immovable property; 2) the qualifying nonresident funds eligible for an income tax exemption is expanded, effective Jan. 1; 3) a REIT ETF trustee can receive distributions from an S-REIT out of tax-deferred distributions or anticipated ...