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Singapore Withholding Tax Requirement

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edited Apr 27, 2020 3:28PM in Tax & Global 2 comments

Summary

Singapore Withholding tax requirement where tax is borne by Payer

Content

There is a withholding tax requirement for Singapore that withholding tax needs to be calculated @ 17% when a Non Singapore Supplier provides any service. However this withholding tax needs to be borne by the Payer (not by the Supplier) and calculated by re-grossing the invoice amount. For eg if the supplier provides a service for 100$ (invoice amount is 100$) then the invoice amount should be re-grossed as 100*(1/(1-0.17)) = 120.48. So withholding tax @ 17% of 120.48 will be 20.48 which will be paid to tax authority and amount of 100 will be paid to the supplier.

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