Regulatory Alerts2018-01-01
Circular No 1 of 2018 – Impact of Upcoming Amendments to Certain Preferential Tax Regimes
The Financial Services Authority issued this circular to notify licensees of upcoming amendments to preferential tax regimes, which are expected to take effect on 1 January 2019. New entrants licensed after 16 October 2017 will retain their tax benefits until the amendments commence, while existing entrants licensed by that date may continue enjoying them until 30 June 2021. Existing entrants must restrict these grandfathered benefits to assets and activities acquired or carried on before 16 October 2017, with any new acquisitions qualifying only until the amendment effective date.
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