Glossary · tax

GST

Also known as: Goods and Services Tax, VAT

Definition: GST is Singapore's 9% (as of 2024) consumption tax on most goods and services. Family offices and fund managers need to consider GST treatment of management fees, performance fees, and ancillary services.

GST treatment of fund-management services is nuanced — fund-management fees on qualifying funds are zero-rated under the GST Act. Family offices typically benefit from this zero-rating on management fees but pay GST on operational expenses (legal, audit, IT). VCC sub-fund structures qualify for the same fund-management zero-rating.

Source: IRAS GST

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GST

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