Singapore Updates Guidance on Payments Subject to Withholding Tax

Updated Withholding Tax Guidance: The Inland Revenue Authority of Singapore (IRAS) has released updated guidance detailing the types of payments subject to withholding tax when made to non-resident companies, ensuring clarity on tax obligations.
Types of Payments Covered: The guidance specifies that withholding tax applies to various payments, including interest, commissions, royalties, management fees, rent for movable property, payments for the purchase of real property from non-resident traders, and distributions from real estate investment trusts (REITs).
Detailed Tax Treatment Information: The updated guidance includes specific withholding tax treatments for different payment types, along with frequently asked questions (FAQs) to assist taxpayers in understanding their withholding tax responsibilities effectively.