Fortune REIT is a real estate investment trust constituted by the Trust Deed and principally regulated by the Securities and Future Act, Chapter 289 of Singapore and the Code on Collective Investment Schemes issued by the Monetary Authority of Singapore (including the Property Funds Guidelines).
Fortune REIT owns malls and properties through wholly-owned special purpose companies. The income of these companies is taxed at source in Hong Kong at the profit tax rate of 17.5%. This after-tax income is then remitted to Fortunte REIT in Singapore which it then fully distributes to investors. No further tax is charged on this distribution. |
