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      Withholding Tax


      What is withholding tax?


      Under Singapore law, a person (known as the Payer) who makes payment(s) of a specified nature (e.g. Royalty, Interest, Technical Service Fee, etc.) to a non-resident company or individual (known as Payee) is required to withhold a percentage of that payment and pay the amount withheld called “Withholding Tax” to IRAS.



      What type of payment is subjected to withholding tax?


      1) Payments for Services, Interest, Royalty, Rental of Movable Properties, etc. 

      2) Payments to Non-Resident Directors, Professionals, Public Entertainers & International Market Agents

      3) Distribution of Real Estate Investment Trust (REITs)

      4) Foreigners/PRs withdrawing from Supplementary Retirement Scheme (SRS) Account



      What is the withholding tax rate?


      Depending on the nature of payment, the withholding tax rate will vary.  

      These are some common payments which you should take note:


      Nature of payment

      Rate

      Interest, commission, fee or other payment in connection with any loan or indebtedness

      15% 

      Rent or other payments for the use of moveable properties

      Proceeds from sale of any real property by a non-resident property trader

      Management fees 

      Prevailing corporate tax rate 17%

      Technical assistance and service fees

      Payment for the use of or the right to use scientific, technical, industrial or commercial knowledge or information

      10% 

      Distribution of taxable income made by REIT to unitholder who is a non-resident (other than an individual)


      When and How to File and Pay the Tax Withheld to IRAS


      As a payer, you are required to e-file and pay the withholding tax to IRAS by the 15th of the second month from the date of payment to the non-resident.


      The date of payment is defined as the earliest of the following dates:

      1.  When the payment is due and payable based on the agreement or contract, or the date of the invoice in the absence of any agreement or contract (credit terms should not be taken into consideration).

      2.  When payment is credited to the account of the Non-Resident or any other account(s) designated by the Non-Resident

      3.  The date of actual payment



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