“We’ve been preparing for this and will be in a position to unwind the Barbados structure before the end of month with no more tax leakages,” Wong says in a teleconference.
SINGAPORE (April 14): On Apr 13, Manulife US REIT’s manager announced that it will revert to its IPO tax structure. Since the implementation of the US Jobs and Tax Act 2017 which was signed into law on Dec 22, 2017, MUST changed its structure to a Barbados structure.
Robert Wong, CFO of MUST’s manager says it’s no longer necessary to preserve the Barbados structure, as it is cumbersome from an administrative and operational angle, and was more expensive
