- Singapore updated its e-Tax Guide on GST concession for REITs and qualifying registered business trusts listed in Singapore.
- The GST concession allows S-REITs and qualifying S-RBTs to claim GST on business expenses.
- The qualifying period for the GST concession is extended to 31 Dec 2030.
- The concession aims to promote Singapore as a preferred listing destination and support growth in the REITs and business trusts market.
- It applies to S-REITs and S-RBTs in infrastructure, aircraft leasing, and ship leasing businesses.
- S-REITs and S-RBTs can claim GST on business expenses, excluding disallowed expenses, regardless of GST registration status.
- The concession treats all supplies by the multi-tiered structure as taxable or exempt for GST claims.
- In 2015, the concession was enhanced to include financing SPVs set up by S-REITs and S-RBTs for raising funds.
- The enhanced concession allows GST claims on expenses related to financing SPVs from 1 Apr 2015 to 31 Dec 2030.
- Qualifying conditions include being listed on the Singapore Exchange and having veto rights over key operational issues of SPVs.
Source: iras.gov.sg
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
