The Inland Revenue Authority of Singapore (IRAS) has recently released a new guide for owners of real estate investment trusts (REITs). The new guide contains information about the new income tax rules Singapore authorities apply to REITs. The guide also provides specific regulations for tax transparency treatment for the distribution of certain income by Singapore companies to owners of investment funds.
The manufacturing industry in Singapore registered its first increase in May after five months of contraction, according to the Purchasing Managers’ Index (PMI) report. The increase is based on the expansion of the demand, production and inventory. Another sector registering spectacular increases is the data management and the connectivity in the technology industry in Singapore.