Impact of China's Offshore Trust Tax Rules on Singapore's Family Office and Trust Management Sector, Ensuring Tax Compliance and Maintaining Legitimate Competitiveness

Mr Yip Hon Weng asked the Prime Minister and Minister for Finance (a) how China's new tax rules for offshore trusts may affect Singapore's family-office and trust-management sector; (b) how MAS and IRAS will ensure relevant institutions manage tax-compliance risks and meet Singapore's tax-transparency and anti-money-laundering requirements; and (c) how Singapore will preserve its legitimate competitiveness in light of these rules.

Mr Gan Kim Yong (for the Prime Minister): This question has been addressed in a reply at the Parliament Sitting on 8 September 2026. [Please refer to "Effect of China’s Tax Enforcement on Offshore Trusts and Wealth Structures on Singapore's Wealth Management Sector", Official Report, 8 September 2026, Vol 96, Issue 35, Written Answers to Questions for Oral Answer not Answered by End of Question Time section.]