On or about 27 November 2019, the Inland Revenue Authority of Singapore (IRAS) has updated information on Filing and Paying Withholding Tax.
Under the current tax law, a person who makes payment(s) of a specified nature to a non-resident company or individual is required to withhold a percentage of that payment and pay the amount withheld (called ‘Withholding Tax’) to IRAS. The payment(s) of a specific nature include:
- Payments for Services, Interest, Royalty, Rental of Movable Properties, etc.
- Payments to Non-Resident Directors, Professionals, Public Entertainers & International Market Agents
- Foreigners/PRs Withdrawing from Supplementary Retirement Scheme (SRS) Account
- Distribution of Real Estate Investment Trust (REITs)
The Payer must 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 IRAS has updated with the following information:
- Filing and Paying Withholding Tax
- When to File and Pay Withholding Tax to IRAS
- How to e-File
- Claiming Relief/Exemption under the Avoidance of Double Taxation Agreement
- How to Pay Tax
- Confirmation of Payment (CP)
- Late Payment or Non-Payment of Taxes
- Tax Refund.
The IRAS has also detailed information on Correcting Errors made in Sec 45 Withholding Tax Form and Voluntary Disclosure of Errors for Reduced Penalties.
Source: IRAS website, 27 November 2019