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Withdrawal of withholding tax administrative concessions
This alert provides an overview of the administrative concessions and the key considerations for businesses after they are withdrawn.
The Inland Revenue Authority of Singapore (IRAS) has announced the withdrawal of administrative concessions that provide for a waiver of withholding tax (WHT) on:
- Payments made to non-resident related companies for services rendered in Singapore under a cost-pooling arrangement.
- Reimbursements of accommodation, meals and transportation expenses made to non-resident companies for services rendered in Singapore.
- Cost of airfare and accommodation borne on behalf of or reimbursed to non-resident professionals and public entertainers for short-term engagements in Singapore.
The above administrative concessions will be withdrawn for payments liable to be made on or after 1 November 2022. This alert provides an overview of the administrative concessions and the key considerations for businesses after they are withdrawn.