Page 5 - Listing a Real Estate Investment Trust in Singapore or China

Taxation of REITS in Singapore
Illustration of a REIT listed in Singapore solely holding properties in the People's Republic of
China (“PRC”)

Investors Investors Tax treatment on
REIT distribution
(unitholders)
Individuals (resident Exempt
& non-resident)

> 90% distribution Singapore resident Taxed on
(tax transparency companies non-exempt portion
rules apply)
Non-Singapore 10% final
resident corporates withholding tax

S-REIT

Sec 36 of the Stamp Act
Stamp duty exemption for any instrument for the
sale, transfer, lease or other disposition, either
absolutely or by way of mortgage or otherwise, of
land situated outside Singapore or any share, estate
Singapore or interest in land situated outside Singapore.

PRC
Sec 13(8) Exemption

· Dividends
· Loan interest Sec 13(12) exemption
· Property management
income

China investors in Tax on REIT
S-REIT distribution

PRC company Resident individuals 20%
holding properties
Resident corporations 25%

THE POWER OF BEING UNDERSTOOD
AUDIT | TAX | CONSULTING