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Singapore Budget 2018: Tax transparency to apply for S-Reit ETFs

THE government will apply tax transparency for exchange-traded funds (ETFs) of Singapore real estate investment trusts (S-Reits), according to Annex A-5 of Finance Minister Heng Swee Keat's Budget speech.

Distributions made by S-Reits to S-Reits ETFs out of specific income derived by S-Reits are now subject to the prevailing corporate tax rate of 17 per cent.

The tax transparency applied to S-Reits will now apply to S-Reit ETFs. This means that the Reits ETF will no longer be subjected to tax on the specified income that is distributed to the unitholders.

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