Qualifying funds may incur GST when the fund procures fund management service and other services from GST-registered businesses.
All qualifying funds that are managed by a prescribed fund manager in Singapore are allowed to claim GST incurred on expenses at an annual fixed recovery rate. The GST remission was granted from 22 Jan 2009 to 31 Mar 2014 and subsequently extended until 31 Mar 2019.
In order to claim the GST incurred, qualifying funds will have to file a quarterly Statement of Claims (in Excel file) to IRAS based on its financial year end. Each Statement of Claims is due one month after the end of the respective quarters. As an administrative concession, funds can file the Statement of Claims on a half-yearly or yearly basis as long as the claims are made within 5 years from the end of the respective quarters.
From 1 September 2018, qualifying funds will have to use CorpPass to log in to myTax Portal to file their Statement of Claims.
Source, IRAS, 8 September 2018