Latest Updates

• Updated paragraph 5.4 to clarify that the tax reference number of the sub-fund will be included in the CORs issued to an umbrella VCC in respect of the sub-fund.
• Updated paragraph 5.8 to include section 92K of the ITA which does not apply to a VCC.
• Removed the footnote on section 14EB of the ITA as the section has been enacted.
• Updated the table in paragraph 5.10 to include exemption for foreign-sourced income.
• Updated footnote 28 to reflect the CIT rebate and CIT rebate cash grant announced in Budget 2026 and the Ministerial Statement on the impact of Middle East Situation on Singapore announced on 7 April 2026.
• Inserted paragraphs 5.17 to 5.19 on exemption for foreign-sourced income which is applicable to sub-fund(s) of a VCC.
• Updated the numbering of footnotes and sections.
• Minor editorial changes. 

1. Updated implementation phase table to include explanations notes for new voluntary GST registrants and new compulsory GST registrants for the 1 April 2026 and 1 April 2028 phases respectively.
2. Updated the definition of total annual supplies with reference to Box 4 of the GST return.
3. Updated early adoption guidance and instructions.
4. Updated 'Grants and Free-of-Charge Solutions' section to include the upcoming new set of FOC solution package for the period of 1 April 2027 to 31 March 2031.

Additional Corporate Income Tax status checks have been added.