Tax

What constitutes "local investments" to satisfy the 10% or $10 million minimum spending on local investments under 13O and 13U requirements?

• Local investments may include:

  1. equities listed on Singapore-licensed exchanges;
  2. qualifying debt securities;
  3. funds distributed by Singapore-licensed/registered fund managers; and/or
  4. private equity investments into non-listed Singapore-incorporated companies (e.g., start-ups) with operating business(es) in Singapore.
     Note that there will be a one (1) year grace period to make the local investments.

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