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Tax for VCCs

How is tax computed for VCC if one or more sub funds has a loss?


  • Should one or more sub-funds of a umbrella VCC be in a tax loss position, for the purpose of completing Form C, the unabsorbed capital allowances, losses and/ or donations of these sub-funds must not be offset against the adjusted profits/ chargeable income of the remaining sub-funds that are in a taxable position. In other words, the adjusted profits/ chargeable income declared in Form C is the sum of the adjusted profits/ chargeable income of the sub funds that are in a taxable position. For tracking purposes, the unabsorbed capital allowances, losses and/ or donations of the loss-making sub-funds should be clearly shown (by year or YA, as the case maybe) in the tax computation.

    Written by EisnerAmper Singapore