As a result, effective for financial years ending in 2014, distributions on such instruments will generally be deductible to issuers and taxable to investors. Singapore is expected to release more details at the end of May 2014.
Among other changes, the budget measures also:
- Extend certain R&D incentives
- Eliminate withholding tax for certain payments made to Singapore branches
- Refine the "Designated Unit Trust" scheme.
For more information, contact your KPMG adviser.
Information is current to March 11, 2014. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500