{"id":5175,"date":"2021-02-04T02:41:32","date_gmt":"2021-02-04T02:41:32","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/liontrust.com.sg\/?page_id=5175"},"modified":"2023-07-14T00:49:07","modified_gmt":"2023-07-14T00:49:07","slug":"updates","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/liontrust.com.sg\/updates\/","title":{"rendered":"Updates"},"content":{"rendered":"\n

Updates<\/h2>
\"\"<\/a><\/figure>

Update on Reporting for Trusts \u2013 IRAS Guidance on CRS Errors and Issues<\/a><\/h3>

On 3 December 2024, Inland Revenue Authority of Singapore (IRAS) updated the section on \u201cCommon CRS Errors and Issues\u201d to address observations relating to the reporting of TIN equivalents and account balances for settlors and protectors in the context of trusts. One key observation highlighted by IRAS is the reporting of account balances for settlors…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Updates on Section 10L of the Income Tax Act 1947<\/a><\/h3>

On 3 October 2023, a new section 10L of the Income Tax Act 1947 (Section 10L) has been passed. Section 10L will allow Singapore to tax gains from the sale of foreign assets that are received in Singapore under certain circumstances. This will apply to gains arising from sales or disposals occurring on or after…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Key Changes to the BVI Business Companies Act and Regulations<\/a><\/h3>

On 12 August 2022, the following legislations were enacted and published in the British Virgin Islands (\u201cBVI\u201d) Official Gazette: BVI Business Companies (Amendment) Act, 2022 BVI Business Companies (Amendment) Regulations, 2022 These new legislations which will be effective on 1 January 2023, are introduced to ensure the BVI\u2019s continued compliance with international standards. Below are…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Additional updates to the Seychelles Beneficial Ownership Act<\/a><\/h3>

The Seychelles have enacted the Beneficial Ownership (Amendment) Regulations, 2023 (\u201cthe Regulations\u201d) on 28 April 2023. Below are some of the additional updates in the Regulations: Updated definition of Beneficial Owner New Declaration of Beneficial Owner template New yearly review obligation by legal entities Elimination of the prescribed Register of Beneficial Owner template For full…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Key Changes to the Seychelles Beneficial Ownership Act<\/a><\/h3>

The Seychelles have enacted the Beneficial Ownership (Amendment) Act, 2022 with effect from 30 December 2022. This new legislation replaces the Beneficial Ownership Act, 2020 (originally enacted on 28 August 2020) for the purpose of ensuring Seychelles\u2019 on-going compliance with international standards. Below are some of the key changes under the new legislation: New\/additional information…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Fund Tax Incentive Schemes for Family Offices – Singapore<\/a><\/h3>

On 5 Jul 2023, the MAS issued new guidelines with updated conditions for Section 13O (formerly 13R) and Section 13U (formerly 13X) tax incentive scheme applications for funds managed or advised directly by a family office. It aims to increase the professionalism of family office professionals in Singapore and ensure the regime remains relevant to…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Changes to Global Investor Programme – Singapore<\/a><\/h3>

On 2 March 2023, the Singapore Economic Development Board (\u201cEDB\u201d) announced changes to the Global Investment Programme (\u201cGIP\u201d). The changes will direct more support to the local start-up ecosystem and the broader financial sector, as well as generate more good jobs for Singaporeans. Many jurisdictions around the world are competing to attract high-calibre business owners…<\/div>

Continue reading<\/a><\/p><\/div><\/article><\/div><\/div><\/div>\n\n\n\n

<\/div>\n\n\n\n

Community Outreach<\/h2>
\"\"<\/a><\/figure>

Forest Adventure with Xin Yuan Community Care<\/a><\/h3>

It is nearing the end of the one-week school holidays in September and we took this opportunity to participate in a tree-top obstacle course at Forest Adventure with the children from Xin Yuan Community Care (\u201cXin Yuan\u201d). We learnt that this is the first time for most of the children but saw that they took…<\/div>

Continue reading<\/a><\/p><\/div><\/article>

\"\"<\/a><\/figure>

Metta School Alumni visit<\/a><\/h3>

In our inaugural charitable event, Liontrust participated in a \u2018reverse volunteering\u2019 event held by Metta School Alumni where the students taught us to do batik painting… Metta School offers special education to children with Mild Intellectual Disability (MID) and to children who also have Autism (ASD), aged between 6 and 21 years.  It\u2019s vision is…<\/div>

Continue reading<\/a><\/p><\/div><\/article><\/div><\/div><\/div>\n\n\n\n

Take a look at the people behind Liontrust<\/h2>
View our People<\/span><\/a><\/div><\/div><\/div><\/div><\/div>\n