Withholding Tax

Singapore’s Income Tax Act requires one to withhold tax while making a payment of a specific nature to non-resident companies. The rate of withholding tax depends on the nature of payment and can vary from 15% to 17%. 

Our Corporate Tax and Compliance team has extensive experience and knowledge to help your company meet tax compliance obligations and statutory requirements. With our efficient and cost-effective tax management services and our ability to identify legitimate tax savings opportunities, you can trust us to keep you up-to-date with your taxes.

The rates of withholding tax may differ and can apply to any of the following:

 

  • Interest, commission, fee in connection with any loan or indebtedness
  • Royalty or any other payment for the use of the right to use any movable property
  • Payment made to acquire the right to use scientific, technical, industrial, or commercial knowledge or information
  • Payment of management of fees
  • Rent or other payment to make use of any movable property
  • Payment for the purchase of real property from a trader who is non-resident
  • Distribution of real estate investment trust (REIT)
  • Payout on certain structured financial products
  • Charter fees for ships and aircraft

How Bluebox can Help?

Withholding tax is a complicated procedure, with variable rates for each scenario. With our help, you can manage all statutory and filing requirements for withholding tax in Singapore. Our team of experts firstly determine the payments that are subject to withholding tax, secondly figures out the exact amount to be paid, and lastly files the relevant withholding tax returns.

 

Bluebox can help you file timely returns and avoid penalties by fulfilling all the complying requirements and adhere to IARS’ tax acts. 

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