Following Budget 2024 announcements on revision of the fund tax incentive schemes for funds managed by Singapore-based fund managers, detail of the anticipated revision is finally announced in Circular No. FDD Cir 10/2024 (“Circular”) published by the Monetary Authority of Singapore (“MAS”) on 1 October 2024. This Circular contains important updates to the fund tax incentive schemes in Singapore, including extension of the tax incentive to limited partnerships registered under the Limited Partnership Act 2008. During this Dbriefs webcast, we discussed the main changes to the existing fund tax incentive schemes, and how Singapore-based funds could prepare themselves to meet the revised tax incentive requirements. We also covered Revised economic criteria for 13U, 13O (including 13OA) and 13D incentives, the “closed-end fund” treatment and how it works and simplification of economic criteria for master-feeder-SPV structure under the 13U incentive. (Live Presentation was aired on 11 November 2024)

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