The Inland Revenue Authority of Singapore (IRAS) and the Monetary Authority of Singapore have finalized a set of rules relating to the impact of the goods and services tax (GST) on the funds management industry. Rules are laid down to establish the location of the funds for GST purposes. These rules which are effective from 1 April 2014 should be consulted by any funds that might be affected by Singapore GST to ensure that the correct GST compliance measures are put into place.
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