Regulatory tracker · MAS ·
VCC (Miscellaneous Amendments) Bill passed, establishing VCC tax treatment
By VCCGuide Editorial
Reviewed by the fund management team at JCube Capital Partners (JCP), a Monetary Authority of Singapore capital markets services licence holder (Licence No. CMS100895).
What changed?
Parliament passed the Variable Capital Companies (Miscellaneous Amendments) Bill on 3 September 2019. The Bill did two things: it established the income tax treatment of VCCs — an umbrella VCC is treated as a single entity for tax purposes — and refined the 2018 VCC Act before its commencement.
Why it matters for fund managers
The single-entity tax treatment is one of the VCC's most practical features: an umbrella VCC files one corporate tax return regardless of how many sub-funds it operates. This Bill completed the legislative groundwork for the framework's launch in January 2020.