Originally enacted to encourage Singapore citizens and Singapore resident individuals to set up prescribed locally administered trusts (PLATs) and engage the services of trust companies in Singapore.
The existing tax exemption granted on certain types of Singapore-sourced investment income derived and foreign-sourced income received directly by individuals is extended to PLATs and their underlying holding companies.
For a trust to qualify as a PLAT, it must satisfy all of the following conditions:
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•ÌýÌýÌýÌý it must be administered by a trustee company in Singapore
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Web page updated on 28 Aug 2024 12:15