Page 3 - Listing a Real Estate Investment Trust in Singapore or China

REIT DISTRIBUTIONS – INVESTORS

UNITHOLDERS TAX TREATMENT REMARK

Individuals who derive any distribution Tax at the individual’s tax rates
through a partnership in Singapore or Section 45G
from carrying on a trade, business or withholding tax
profession
(WHT) is not
applicable
Other individuals (both resident and Exempt from tax - Section 13(1)(zh)
non-resident)

• Companies incorporated and resident • Tax at respective tax rates unless
in Singapore otherwise exempt
• Singapore branches of companies
incorporated outside Singapore for
WHAT IS “SPECIFIED INCOME” FOR A REIT? distributions received on or after 1

(Sec 43(2A) and (b) of the Singapore Income Tax Act (SITA)) January 2015
• Bodies of persons incorporated or
Rental income or income from the management or holding of immovable property but not registered in Singapore
including gains from the disposal of immovable property
Income that is ancillary to the management or holding of immovable property but not REIT Exchange-Traded Funds (ETFs) Not subject to tax in the hands of the
including gains from the disposal of immovable property accorded the tax transparency trustee of the REIT ETF in respect of
Income that is payable out of rental income or income from the management or holding of treatment distributions made during the period
immovable property in Singapore, but not out of gains from the disposal of such immovable from 1 July 2018 to 31 December 2025
property
Qualifying non-resident non-individuals Subject to 10% final withholding tax for Section 45G(1)(a)
Rental support payment that is paid to the trustee on or after 29 December 2016 by:
(e.g. non-resident corporate investors) distributions made from 18 February WHT is applicable
the seller who sold to the trustee the property or any interest in the owner of the 2005 to 31 December 2025
property;
a person who wholly owns (directly or indirectly) the seller; or Qualifying non-resident funds Subject to 10% final withholding tax for
distributions made from 1 July 2019 to 31
any other person approved by the CIT.
December 2025
Distributions from an approved sub-trust of the REIT out income referred to in (a), (b)
and (c) above Others Subject to withholding tax at the Section 45G(1)(b)
prevailing corporate tax rate WHT is applicable

THE POWER OF BEING UNDERSTOOD
AUDIT | TAX | CONSULTING