The Inland Revenue Authority of Singapore has published Advance Ruling Summary No. 20/2025 on the tax treatment of the cash premium paid pursuant to an exchange of existing securities in a refinancing transaction involving a listed Real Estate Investment Trust (REIT).
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Advance Ruling Summary No. 20/2025
1. Subject
Whether:
a. the amount of X% in excess of the principal amount of the Existing Securities (as defined below) (the "Cash Premium") will be regarded as "early redemption f…