Family office & private clients series: New section 10L on taxation gains from foreign asset disposal

The Family Office & Private Clients team at KPMG in Singapore is hosting a series of sessions dedicated to knowledge sharing and networking opportunities. For the first session of 2024, we will be collaborating with the Private Enterprise team, and are pleased to invite you to join us on Tuesday, 9 January 2024.

During this session, we will delve into the impact of the recently introduced Section 10L on the taxation of gains from disposing of foreign assets, with a specific focus on private clients, family offices, trust structures, and family businesses. Section 10L of the Income Tax Act 1947 outlines that gains received in Singapore from the sale or disposal of foreign assets on or after January 1, 2024 by a relevant entity without sufficient economic substance in Singapore should be treated as taxable income. 

Pearlyn specialises in providing Singapore and international income tax consulting. Her expertise extends to providing advice in structuring and transactions related to private wealth, asset and fund management, real estate, and renewable energy sectors. She has over 15 years of experience in the industry, and has assisted clients with the set-up of family offices, structuring of funds, and facilitating the acquisition and disposal of various asset classes. During her 18-month secondment to New York, United Sates, Pearlyn worked in the tax financial advisory sector while collaborating with global asset managers.

Admission is complimentary, but early registration is highly recommended to secure your spot. Please indicate your availability by clicking the registration button below.

We look forward to welcoming and engaging with you at the event.