Financial Services Tax Bulletin

April 2011
Withholding tax exemption for specified entities

Despite the relative lack of attention paid to multi-nationals in Singapore's Budget 2011 than in previous years, the financial services sector continues to be a beneficiary with measures introduced to simplify tax rules and ease compliance. One of them is the withholding tax exemption granted to specified financial institutions on interest and related payments. Details of the scheme were released on 31 March 2011. In this bulletin, we examine some of the finer points of the scheme.

For a summary of the main themes of the document and our comments on these developments, please download the Financial Services Tax Bulletin.

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