26 July 2012

The Income Tax (Exemption of Income of Non-residents Arising from Funds Managed by Fund Manager in Singapore) (Amendment) Regulations 2012 were published on 20 July 2012.

The following Regulations in the Income Tax (Exemption of Income of Non-residents Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 6/2010) (the principal Regulations) are affected:

• Definitions of ‘prescribed persons’ and ‘Singapore person’ in Regulation 2
• Where there is no deduction in respect of loss arising from designated amendments (Regulation 4)
• Persons exempted from application of certain provisions (Regulation 5)
• Issuance of an annual statement and declaration (Regulation 7)

The amendments to the principal Regulations are operationally effective on the dates as specified in the Regulations.

Source: e-Gazette