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Singapore: Tax framework for variable capital companies

Key revisions in fourth edition of e-Tax Guide

June 18, 2026

The Inland Revenue Authority of Singapore (IRAS) issued the fourth edition of its e-Tax Guide on the tax framework for variable capital companies (VCCs).

The updates mainly comprise clarifications and enhancements to the tax treatment and compliance framework for VCCs, including sub-fund level treatment, foreign-sourced income exemption, and Budget 2026 changes (e.g. the corporate income tax rebate).


For more information, contact a KPMG tax professional in Singapore:

Audrey Wong | audreywong@kpmg.com.sg

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