IRAS’s eighth edition of its e-tax guide outlines the income tax treatment of REIT ETFs receiving distributions from S-REITs and qualifying for tax concession schemes.

Singapore’s Inland Revenue Authority (IRAS) released the eighth edition of its e-Tax Guide on the income tax treatment of real estate investment trust exchange-traded funds (REIT ETFs) on 30 June 2025.

The guide explains how income tax applies to REIT ETFs that receive tax transparency treatment. It is intended for trustees, managers, unit holders, and potential investors of REIT ETFs.

Specifically, the guide covers the tax treatment of REIT ETFs that receive distributions from REITs listed on the Singapore Exchange (S-REITs). This includes REIT ETFs eligible for tax concessions under the following schemes:

  • Designated Unit Trust
  • Approved Unit Trust
  • Income of prescribed persons arising from funds managed by fund managers in Singapore
  • Income arising from funds managed by fund managers in Singapore